Arab News: The Central Bank of Egypt announced that remittances from Egyptians abroad rose to their highest ever annual level last year even as the pandemic weighed on economic activities worldwide.
The bank’s data revealed that money from Egyptians working abroad during the fiscal year 2020-2021 saw a 13.2 percent rise — or about $3.7 billion — compared to the 2019-2020.
The Central Bank of Egypt added that the payments amounted to about $31.4 billion, compared to about $27.8 billion dollars in the previous 12 months.
During June, money from Egyptians abroad also witnessed an annual increase of 15.5 percent, about $2.9 billion, compared to about $2.6 billion in June 2020.
Minister of Planning and Economic Development Hala Al-Saeed said one of the objectives of his government's economic development plan include increasing money from Egyptians working abroad to about $30 billion, compared to $25.2 billion in 2018-2019, according to data issued by the Ministry of Planning.
https://www.arabnews.com/node/1930116/business-economy
