Egyptian expats' remittances rise to $2.9bln in July: CBE

Total remittances reached $17bln in seven months

  
Egyptian money and visa A man holding Egyptian currency and a passport containing an Egyptian visa

Egyptian money and visa A man holding Egyptian currency and a passport containing an Egyptian visa

Getty Images/ Joel Carillet

Cairo – Mubasher: Remittances from Egyptians living abroad rose for the second month in a row, growing by 9.5% year-on-year (YoY) in July, according to the Central Bank of Egypt (CBE).

Egyptians’ remittances stood at $2.9 billion in July, compared to $2.6 billion in the same month a year earlier, the CBE said in a statement on Tuesday.

From January to July, total remittances from Egyptian expats increased by 7.8% to $17 billion from $15.7 billion in the year-ago period.

Source: Mubasher

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