Remittances from Egyptians abroad grow 1.5% in Q1 FY 2021-22: official

Remittances from Egyptians working abroad reported a 1.5 percent year-on-year growth the first quarter of the financial year 2021-2022 that began in July, a central bank official said in a statement on Tuesday.

A key source of foreign currency for Egypt, remittances amounted to around $8.1 billion in the July-September quarter compared with nearly $8 billion a year prior, said Adel Abdel Azeem – assistant sub-governor for the economic research division at the Central Bank of Egypt.

Remittances in the January-September period rose by 8.8 percent year-on-year to $24.0 billion.