Egypt’s remittances climb to $28.9 bln during first 11 months of 2021

Doaa A.Moneim , Thursday 24 Feb 2022

Egyptian expats' remittances rose by 6.6 percent ($1.8 billion) from January to November 2021 to post $28.9 billion, compared to the corresponding period in 2020, Central Bank of Egypt (CBE) announced on Thursday.


On the other hand, the bank’s preliminary data shows that remittances declined in November 2021 by 3.9 percent year-on-year (Y-O-Y) to $2.5 billion, down from $2.6 billion reached in November 2020, according to CBE’s sub-governor Adel Abdel Azim.

Otherwise, remittances rose month-on-month (M-O-M) in November 2021 by 8.7 percent compared to October, according to Abdel Azim.

Remittances jumped to an unprecedented rate of 13.2 percent in FY2020/2021 to reach $31.4 billion, up from $27.8 billion recorded in FY 2019/2020, according to CBE

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