06 Jul 2022

The CBE (Central Bank of Egypt) reported that remittances from Egyptians living abroad increased 7.7% YoY during 4M22 to reach USD11.1bn. April 2022 recorded a stunning growth in remittances of over 24% YoY to reach USD3.1bn. March 2022 also witnessed a massive increase of 13% YoY to register USD3.3bn. February 2022 remittances had also skyrocketed by over 44% YoY. (Sources: Egypt Today (English), Sada el-Balad (English) (Arabic), al-Maal, Amwal al-Ghad, Zawya, al-Youm al-Saabe, al-Masry al-Youm, al-Watan, Akhbar al-Youm, Masrawy, al-Sharq Business, al-Arabiya, al-Ain)