Remittances from Egyptian expats hike 7.7% in 4 months

Remittances from Egyptian expatriates increased 7.7 percent during the first four months of 2022, recording $ 11.1 billion, compared to $10.3 billion during the same period of 2021, the Central Bank of Egypt (CBE) announced Tuesday.

 

In April, the remittances of Egyptians expatriates recorded $3.1 billion, compared to about $2.5 billion compared to the same month of 2021, marking an increase of 24.4 percent.

 

The remittances decreased by 7.2 percent on a monthly basis as it recorded $3.3 billion in March 2022.

 

Remittances from Egyptians expatriates during March 2022 recorded about $3.3 billion, an increase of 12.8 percent (on an annual basis), compared to about $2.9 billion in March 2021.

 

The CBE clarified that the remittances increased by 44.4 percent on a monthly basis which recorded $2.3 billion in February 2022.