The Central Bank of Egypt revealed that the remittances of Egyptians working abroad increased by 13.2 percent annually, to a record level at $31.4 billion in the fiscal year ending in June 2021. Thus, these remittances achieved their highest historical level, recording about $27.8 billion during the previous fiscal year 2019-2020, as the fiscal year in Egypt begins on July 1 and ends in June.
Remittances of Egyptian workers abroad, which are a major source of foreign exchange in Egypt, amounted to 8.1 billion dollars during the period from April to June, representing an increase from 6.2 billion dollars in the same period in 2020.
In another context, the Egyptian annual inflation escalated to 5.7 percent during the month of August, with monthly inflation achieving a rise of 0.1 percent on a monthly basis, compared to an increase of 0.9 percent on a monthly basis in July. On the other hand, the volume of the current portfolio of the Ministry of International Cooperation amounted to about 25 billion dollars in all development sectors until 2020, in addition to the funding agreed upon during the past year, which amounted to 9.8 billion dollars.
Source (Asharq Al-Awsat Newspaper, Edited)
