Remittances from Egyptians abroad surge 13% for July 2020 to May 2021 – c.bank

Remittances from Egyptians working abroad grew 13.0 percent year-on-year in the July 2020 to May 2021 period, the first 11 months of Egypt’s financial year, the central bank said on Tuesday.

Remittances rose to around $28.5 billion from $25.2 billion in the July 2019 to May 2020.

A key source of foreign currency for Egypt, remittances also soared 45.2 percent year-on-year in May to around $2.6 billion compared with $1.8 billion last year.