Remittances from Egyptians working abroad increased during the first quarter of the fiscal year 2020-2021 (July - September 2020) by about $1.3 billion, an annual increase rate of 19.6 percent, to reach about 8 billion compared to 6.7 billion during the same period of the previous year.
The preliminary data of the Central Bank of Egypt showed that remittances from Egyptians working abroad increased last September, at an annual rate of 16 percent, to record about $2.7 billion, compared to about 2.3 billion in September 2019.
It is noteworthy that remittances from Egyptians abroad increased from January to September 2020 at an annual rate of 11.6 percent, to reach about $22.1 billion, compared to about 19.8 billion during the same period of the previous year. While it increased to 27.8 billion in the 2019-2020 fiscal year, from $25.2 billion a year earlier.
On the other hand, the Central Bank revealed that Egypt sold treasury bills denominated in dollars for a year at one billion dollars, at an average return of 3.395 percent, as foreign investments in Egyptian debt instruments currently exceeded the $23 billion.
Source (Al-Rai Newspaper-Kuwait, Edited)
