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Reading: Egypt reports $2.5bn increase in remittances from expatriate workers in 10 months: CBE
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Dailynewsegypt > Blog > Business > Egypt reports $2.5bn increase in remittances from expatriate workers in 10 months: CBE
Business

Egypt reports $2.5bn increase in remittances from expatriate workers in 10 months: CBE

Daily News Egypt
Last updated: 2021/07/08 at 9:44 PM
By Daily News Egypt 1 Min Read
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The Central Bank of Egypt (CBE) has said that portfolio investment flows directed to emerging markets (EMs) will witness a slow and uneven recovery in favour of regions with the strongest economic recovery.
The Central Bank of Egypt (CBE) has said that portfolio investment flows directed to emerging markets (EMs) will witness a slow and uneven recovery in favour of regions with the strongest economic recovery.
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The Central Bank of Egypt (CBE) has announced that remittances sent by Egyptians abroad recorded a $2.5bn increase during the 10-month period covering July to April of fiscal year (FY) 2020/21. 

The figure represented an increase of 10.5%, ensuring that Egypt received about $25.8bn in remittances. 

This compared to the $23.4bn in remittances sent by expatriate workers during the same period in FY 2019/20.

The data also showed an increase in those transfers during the month of April 2021, at an annual rate of 34.0%, to record about $2.5bn compared to about $1.8bn in April 2020.

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