Egyptian remittances record $31.4bn in FY 2020/21: CBE

Hossam Mounir
1 Min Read

The Central Bank of Egypt (CBE) said that remittances from Egyptians working abroad increased by about $3.7bn (13.2%) during fiscal year (FY) 2020/21, achieving a historic level of about $31.4bn, compared to about $27.8bn in FY 2019/20.

CBE explained, in a statement on Wednesday, that those transfers jumped by 29.6%, to record about $8.1bn during the period April-June 2021, compared to about $6.2bn during the same period in 2020.

Remittances increased in June 2021 at an annual rate of 15.5% to record about $2.9bn, compared to about $2.6bn in June 2020.

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