24 Aug 2022

The CBE (Central Bank of Egypt) reported that remittances from Egyptians working abroad increased by 1.6% during FY21/22, reaching USD31.9bn. During 4Q21/22, remittances rose by 3% YoY to register USD8.3bn. A large proportion of these remittances generally come from Egyptians working in the GCC (Gulf Cooperation Council) countries. Remittances are one of the key sources of foreign currency for Egypt. (Sources: Zawya (English) (Arabic), al-Ahram (English) (Arabic), Daily News Egypt (English), Business Today Egypt (English), Egypt Independent (English), Egyptian Gazette (English), Sada el-Balad (English) (Arabic), al-Sharq al-Awsat (English) (Arabic), Xinhua (English) (Arabic), al-Maal, Amwal al-Ghad, al-Borsa, al-Youm al-Saabe, al-Masry al-Youm, al-Watan, al-Shurouk, Akhbar al-Youm, Masrawy, Middle East News Agency, al-Sharq Business, al-Arabiya, RT)