Egyptian expat remittances increase to US$ 2.7 billion in May 2024
For the third month in a row, remittances from Egyptians working abroad increased during May at a rate of 73.8 percent on an annual basis to reach about US$2.7 billion compared to about $1.6 billion during last year. It also increased by 26.6 percent compared to April, during which it reached about $2.2 billion, following … The post Egyptian expat remittances increase to US$ 2.7 billion in May 2024 appeared first on Egypt Independent.
For the third month in a row, remittances from Egyptians working abroad increased during May at a rate of 73.8 percent on an annual basis to reach about US$2.7 billion compared to about $1.6 billion during last year.
It also increased by 26.6 percent compared to April, during which it reached about $2.2 billion, following the economic reform package on March 6.
Remittances from Egyptians expats has increased during April at a rate of 43.8 percent (on an annual basis), for the second month in a row, to reach about $2.2 billion (compared to about $1.5 billion during 2023).
In April, it increased by 2.6 percent compared to March, during which it recorded about $2.1 billion, as a result of economic decisions on March 6.
A report issued by the Central Agency for Public Mobilization and Statistics monitored some economic, population and demographic indicators bolstered by achievements made by the state during the past ten years.
The value of remittances from Egyptians working abroad totaled $241.5 billion during the past ten years.
The post Egyptian expat remittances increase to US$ 2.7 billion in May 2024 appeared first on Egypt Independent.
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