The Central Bank of Egypt announced that remittances from Egyptians abroad rose to $20 billion during the first seven months of fiscal year 2024/2025, up from $11 billion in the same period last year, marking an 81% increase.
The bank reported that remittance inflows in January alone reached $2.9 billion, a year-on-year increase of 83.2% compared to $1.6 billion in January 2024 — the highest January total on record.
The bank attributed the sharp rise in remittances to the economic reforms introduced in March 2024.
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