Last Update 23:27
Sunday, 26 May 2019

Remittances from Egyptians abroad rise 20.4 pct y/y in September:

Reuters , Sunday 18 Nov 2018
File Photo: Central Bank of Egypt's headquarters is seen in downtown Cairo (Photo: Reuters)
Views: 2084
Views: 2084

Remittances from Egyptians abroad rose 20.4 percent year-on-year in September to $1.8 billion, the central bank said on Sunday.

The figure means remittances grew by 1.5 percent in the first quarter of the 2018/2019 financial year to $5.9 billion.

Remittances in September of last year were at $1.5 billion and stood at $5.8 billion in the first quarter of the 2017/2018 fiscal year, according to the central bank.

Egypt’s fiscal year runs from July to June.

Remittances have become a crucial source of hard currency for the import-dependant country, which has struggled to boost exports or foreign direct investment despite economic reforms tied to a $12 billion IMF loan programme it began in late 2016.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.