Remittances from Egyptian expats reach $8B in Q1 20/21

CAIRO – 8 December 2020: Remittances from Egyptian expatriates climbed 19.6 percent during the first quarter (Q1) of the fiscal year of 2020/2021 to reach $8 billion, compared to $6.7 billion during the same quarter of the fiscal year of 2018/2019, according to the Central Bank of Egypt (CBE). 

CBE clarified Tuesday that remittances from Egyptian expatriates rose 16 percent in September 2020, recording $2.7 billion, compared to $2.3 billion in September 2019

During January/ September 2020, remittances from Egyptian expatriates hiked 11.6 percent, recording $22.1 billion, compared to $19.8 billion in September 2019, the issued data revealed.

Moreover,  remittances from Egyptian expatriates hiked 10.4 percent during the fiscal year of 2019/2020 to reach $27.8 billion, recording its highest record ever, compared to $25.2 billion during the fiscal year of 2018/2019.