Cairo – Mubasher: Remittances from Egyptian expatriates surged by $1.3 billion or 19.6% year-on-year (YoY) to $8 billion in the first quarter (Q1) of fiscal year 2020/2021, compared to $6.7 billion in the year-ago period, according to data by the Central Bank of Egypt (CBE).
In September, remittances of Egyptians living abroad increased by 16% YoY to $2.7 billion from $2.3 billion in September 2019, the CBE said in a statement on Monday.
Over the January-September period of 2020, remittances of Egyptian expats rose by 11.6% to $22.1 billion from $19.8 billion in the corresponding period a year earlier.
