Remittances from Egyptians living abroad increased by $3.3 billion or 13% year-on-year (YoY) during the first 11 months of fiscal year (FY) 2020/2021.
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During the 11-month period ended 31 May, remittances from Egyptian expatriates amounted to $28.5 billion, compared to $25.2 billion in the prior-year period, data by the Central Bank of Egypt (CBE) showed on Tuesday.
During May, expats’ remittances surged by 45.2% YoY to $2.6 billion, compared to $1.8 billion in May 2020.
