ArabFinance: Egyptian expats' remittances reached $31.4 billion in fiscal year (FY) 2020/2021, increasing 13% compared to FY 2019/2020 and 70% compared to FY 2013/2014, Minister of Planning and Economic Development Hala El-Said revealed.
El-Said noted that Egypt is working on rejuvenating the economy through raising incomes and increasing investments in top-priority sectors.
According to data the Central Bank of Egypt (CBE), Egyptian expats remittances edged up by 29.6% from April to June 2021 to $8.1 billion, up from $6.2 billion in the same period of 2020.
Additionally, Egyptian expats' remittances rose by an annual rate of 15.5% in June to reach $2.9 billion, up from $2.6 billion in June 2020.
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