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Remittances from Egyptians abroad hit $18.72B in 7 months

Remittances from Egyptians abroad hit $18.72B in 7 months

Arab Finance: Remittances from Egyptians living abroad rose by $22.6 million in the period from January to July 2022 to $18.72 billion, versus $18.69 billion in the same period of 2021, Middle East News Agency (MENA) reported on September 15th, citing a statement by the Central Bank of Egypt (CBE).

In July 2022 alone, remittance from Egyptian expats recorded $2.38 billion, compared to $2.79 billion in July 2021.

It is worth noting that remittances from Egyptians working abroad increased 1.6% year-on-year (YoY) to around $31.9 billion during the fiscal year (FY) 2021/2022.

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