Egyptian remittances expats reach $5.2 in January, February

Remittances from Egyptian expatriates jumped 33.6 percent or $1.3 billion during the first two months of 2020 to record $5.2 billion, , according to the Central Bank of Egypt (CBE).

Remittances from Egyptian expatriates recorded $3.9 billion during the correspondent month of 2019.

CBE clarified Thursday that remittances from Egyptian expatriates climbed during January 2020 to $2.6 billion, compared to $2.1 billion during January 2019, marking an increase of 27.8 percent.

As per February 2020, the central bank stated that the remittances climbed 40.4 percent to hit $2.6 billion, up from $1.8 billion during the same month of 2019.