Arab News: Remittances from Egyptians working abroad edged up by $116.8 million to $2.54 billion in January from a year earlier, Asharq Business reported, citing a Central Bank filing.
Remittances from Egyptian expats between July 2020 and the end of January 2021 recorded a 10.6 percent increase.
Millions of Egyptians working overseas send money back to support their families at home, including a large diaspora across the Gulf states.
Together with income from ships passing through the Suez Canal, remittances are among the most important sources of foreign currency for the country.
Such remittances have become even more significant over the past year because of the sharp decline in tourism revenues as a result of the pandemic.