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Decline attributed to lower oil prices in GCC, global slowdown, says report
The rise in remittances from workers abroad shows an increase rate of 33.6%, bringing the total amount of remittances in the first two months of the year to about $5.2bn. The latest figures compare to the roughly $3.9bn in remittances reported during the same two months last year.
The CBE added that remittances in the second half (2H) of 2019 surged by about $1.6bn to $13.7bn, compared to $12.1bn in the corresponding period in 2018.
Remittances increased to $9bn in July-October 2019
Moreover, the remittances of Egyptian expats in September hiked about $2.3bn, recording a month-over-month increase of 33.2%, equivalent to $581.2m, compared to about $1.8bn in August. It also recorded a year-over-year increase of 32.8% compared to September 2018, the CBE added.
Remittances of Egyptians working abroad are one of Egypt’s most important foreign exchange resources.
Global remittances on track to reach $550bn in 2019, says KNOMAD
Increase of 5.7% in remittances compared to same period in 2017
During the period from January to October 2018, the total value of Egyptian expatriates’ remittances increased by $1.6bn to reach a total of $21.4bn, an increase of 8%, compared to $19.8bn during the same period last year, according to Central Bank of Egypt (CBE). The CBE said that the total value of remittances of Egyptians …
Total remittances from expatEgyptians witnessed 41.2% increase in April 2018, reaching about $2.3bn
A Thursday press statement from the Central Bank of Egypt revealed a historical hike of Egyptian expats’ remittances up to $26.5bn in the fiscal year(FY) of 2018 with a 21.1% increase, compared with FY 2017 which was $21.9bn. Egyptian expats’ remittances recorded $7bn from April to June compared with $6bn during the same period of …
Total remittances reach a record level of $26bn from July 2017 to April 2018
Egypt receives foreign exchange inflows of about $120bn since flotation, says Amer
Egyptians’ remittances recorded about $2.2bn in November 2017, compared to $2.1bn in November 2016
CBE called on banks to transfer change to main account at end of each month to direct to Tahya Misr Fund
Increase among results of floatation, proof of confidence in Egyptian banks: CBE
July transfers reach $1.8bn against $1.2bn a year earlier
The remittances stood at $1.7 billion against $1.5 billion a year earlier
Total remittances in March 2017 were worth $1.6bn, compared to $1.5bn in March 2016
Total remittances sent home from Egyptians working abroad rose during the period between October and December 2016 by about $500m, reaching $4.6bn; compared to $4.1bn during the same period in 2015—a growth of 11.8%, according to the Central Bank of Egypt (CBE). Remittances from abroad are considered one of the most important resources for foreign …
Banks received $3.9373bn over three months
Leaders of the National Bank of Egypt and Banque Misr revealed that 30% of the remittances sent by Egyptians abroad to banks now remain in Egyptian banks compared to the previous 1%. There has been an upwards trend in these rates since the flotation of the Egyptian pound last Thursday. Vice chairperson of the National …
Xpress Money records 20% boost in remittances received by the state during the Muslim bayram
Xpress Money’s mobile transactions are only available in the UK and will be available in other countries in first half of 2017, says COO
Egypt had 29.8% of the total Arab remittances from Britain, says Fattouh
Egypt tops Arab world in terms of expatriate remittances, estimated at $20bn annually
Funding reached EGP 2.3bn by September, of which EGP 2bn was allocated to small- and medium-sized projects and EGP 300m for social development
The Libyan conflict could hurt the already struggling Egyptian economy
By: Ibrahim al-Masry Kamal Abu Eita, Minister of Manpower and Emigration stated that basic services need to be provided in order to encourage economic growth and benefit the lower classes at a recent conference held for Egyptians living abroad, under the title of “Egypt in the heart” under the auspices of President Adly Mansour. …
Political instability minimises Egypt’s chances of luring FDI