Remittances from Egyptians Abroad Reach a Record Level of $31.4 Billion

Preliminary data showed that remittances from Egyptians working abroad increased during the fiscal year 2020/2021 by 13.2%, amounting to an increase of approximately $3.7 billion. This figure reached an all-time high of about $31.4 billion compared to approximately $27.8 billion during the previous fiscal year 2019/2020. Data released by the Central Bank of Egypt today, Wednesday, indicated that remittances from April to June 2021 rose by 29.6%, reaching about $8.1 billion compared to around $6.2 billion during the same period in 2020. Remittances in June 2021 increased by an annual rate of 15.5%, amounting to approximately $2.9 billion compared to about $2.6 billion in June 2020. Remittances from Egyptians abroad represent an important source of foreign currency for Egypt.