CBE: Remittances from Egyptians abroad Rose  to $29 Billion in 11 Months

Dr. Adel Abdel Azim, Deputy Governor of the Central Bank  of Egypt (CBE)  and Assistant to the Economic Research Sector stated that remittances from Egyptians working abroad increased during the period January-November 2021 to record about $28.9 billion, an increase of about $1.8 billion and a rate of 6.6% compared to the same period in 2020.

Preliminary data also showed a decline in remittances during November 2021 at a rate of 3.9% on an annual basis, to record about $2.5 billion (compared to about $2.6 billion in November 2020), while it recorded an increase compared to the previous month directly (October 2021) at a rate of 8.7%.

And last January, Dr. Abdel Azim stated that the remittances of Egyptians working abroad were recorded during the first ten months of the year 2021 (January/October) about $26.4 billion, an increase of about $1.9 billion and a rate of 7.8% compared to the same period in 2020.