Remittances from Egyptians working abroad record highest level ever

The Central Bank of Egypt reported that remittances from Egyptians working abroad increased in fiscal year 2020-2021, at a rate of 13.2% compared to the previous fiscal year.

According to preliminary data from the Central Bank of Egypt, remittances rose $ 3.7 billion to an all-time high, registering around $ 31.4 billion.

For comparison, in the previous fiscal year 2019-2020, foreign transfers amounted to $ 27.8 billion.

The data also showed an increase in these transfers during the April-June period of this year, at a rate of 29.6%, to register about $ 8.1 billion (up from about $ 6.2 billion in the during the same period last year.

Source: the seventh day

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