Egyptian expats remit $2.7b in Sep. ’24

By Nada Ali On Nov 25, 2024

The Egyptian Central Bank offices in Cairo, Egypt (AP).

Remittances from Egyptian expats have doubled to about $2.7 billion in September 2024, compared to $1.3 billion in the same month of 2023, following economic reforms implemented in March 2024.

During the first quarter of the fiscal year 2024/2025 (July-September 2024), remittances increased by a substantial 84.4 per cent, reaching $8.3 billion, a central bank data showed on Monday.

Year-to-date, remittances from Egyptians overseas inched up by 42.6 per cent, reaching $20.8 billion in the first nine months of 2024, compared with $14.6 billion in the same period in 2023.

Attribution: CBE statement

Subediting: M. S. Salama