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Egypt’s remittances rise 1.6% YoY in FY 2021/22

Egypt’s remittances rise 1.6% YoY in FY 2021/22

ArabFinance: Remittances from Egyptians working abroad grew 1.6% year-on-year (YoY) to around $31.9 billion during the fiscal year (FY) 2021/2022, the Middle East News Agency (MENA) reported on August 23rd.

From April until June 2022, remittances inched up around 3% to $8.3 billion from $8.1 billion the year before.

Egyptian expats’ remittances reached around $2.8 billion in June 2022, down from about $2.9 billion in the same month a year earlier.

It is worth noting that remittances recorded around $29.1 billion in the first 11 months of FY 2021/2022, versus about $28.5 billion in the same period of FY 2020/2021.

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