Remittances from Egyptian expatriates grew by 2.1% year-on-year (YoY) during the period from July 2021 to May 2022, the Central Bank of Egypt (CBE) revealed in a statement on August 1st.

Remittances recorded around $29.1 billion in the first 11 months of fiscal year (FY) 2021/2022, versus about $28.5 billion in the same period of FY 2020/2021.

In May, remittances amounted to around $2.4 billion, down from about $2.6 billion during the same months the year before.

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