Friday 27 Dec
In a positive economic indicator, remittances from Egyptians working abroad surged by a significant 107.7% in September, reaching $2.7 billion.
Data released by the Central Bank of Egypt on Monday revealed that remittances from Egyptians increased substantially from the $1.3 billion recorded in September 2023.
It's worth noting that
remittances from Egyptians abroad have consistently grown since the
implementation of economic reform measures in March, which included exchange
rate liberalization and the elimination of the dual exchange rate system.
Remittances also saw a
substantial increase of 84.4% during the first quarter of the fiscal year
2025/2024, reaching approximately $8.3 billion compared to $4.5 billion in the
same period last year.
Concurrently, remittances from Egyptians abroad grew by 42.6% during the first nine months of the current year, reaching $20.8 billion, compared to $14.6 billion during the same period in 2023.
