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Remittances from Egyptian expats 86.8% Y-o-Y up in July – CBE
Yomna Yasser Published in Amwal Al Ghad on 09 - 09 - 2024

Remittances from Egyptian expats reached a new high in July 2024, increasing by 86.8 per cent year-on-year to approximately $3.0 billion, a central bank data showed on Monday. This marks the fifth consecutive month of growth and is the largest monthly increase on record.
In July 2023, remittances stood at $1.6 billion.
On a monthly basis, remittances rose 15.9 per cent in July compared to a previous month.
Year-to-date, remittances from Egyptians overseas surged by 32.4 per cent, reaching $15.5 billion in the first seven months of 2024, compared with $11.7 billion in the same period in 2023.
The continued increase in remittances is a positive indicator for Egypt's economy.
Attribution: The Central Bank of Egypt (CBE)

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