Remittances from Egyptian expats reached $26bn in 2019

clock • 1 min read

Egyptian expats sent a record $26.8bn to Egypt last year, according to figures published last week by the Central Bank of Egypt (CBE). The sums represent a 5% increase YoY, a rise on 2018 of more than $1.3bn, according to Reuters. Total remittances emittances rose to $26.8 bn in 2019 from $25.5bn in 2018, the CBE said in a statement on Thursday. The figures show a surge in December, with remittances rising by $437m or 20.1%. The month saw a rise YoY from $2.2bn in December 2018 to $2.6bn for the same month last year. According to figures from Egypt's Central Agency for Public Mo...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.