By: Yassmine ElSayed
CAIRO, Jan. 29 (SEE) - The Central Bank of Egypt (CBE) announced a rise in remittances from Egyptian expats by 5.7 percent in 11 month in 2018.
CBE said in a statement yesterday that remittances from Egyptians working overseas during the period between January and November 2018, increased by $1.2 billion to around $23.3 billion compared to 22.1 billion in the same period last year.
Egyptian transfers are considered the largest source of foreign reserves in the country, higher than exports, tourism, Foreign Direct Investment (FDI), or Suez Canal revenues.
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