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Remittances from Egyptian expats hit $14.5b in 9 months – CBE
Nada Ali Published in Amwal Al Ghad on 21 - 08 - 2024

Remittances from Egyptian working abroad experienced a 17.1 per cent decline to reach $14.5 billion during the July-March period of the 2023/2024 fiscal year, a recent Central Bank of Egypt (CBE) report showed. Earlier, the remittances stood at $17.5 billion in the July-March period of the 2022/2023 fiscal year.
On a positive note, the CBE report mentioned: "Egyptian workers' remittances recorded in in March 2024 an annual increase of 11.1 percent – for the first time after a 22-month slump – to stand at $2.1 billion against $1.9 billion in March 2023, thanks to the economic decisions taken on the 6th of March 2024."
Meanwhile, the investment income balance deficit increased by 4.0 per cent to $14.0 billion, up from $13.5 billion in the previous fiscal year.
Attribution: The CBE's External Position of the Egyptian Economy report
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Subediting: Y.Yasser

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