Remittances from Egyptians abroad surge 45.3% YoY in 10 months

Getty Images

In October alone, surged by 68.4% compared to the same period in 2023, totaling $2.9 billion, compared to $1.7 billion in October 2023

Staff Writer, Arab Finance

December 24, 2024

PHOTO

The Central Bank of Egypt (CBE) announced that remittances from Egyptians working abroad reached $23.7 billion in the first ten months of 2024, reflecting a 45.3% year-on-year (YoY) increase, as per a statement.

In October alone, surged by 68.4% compared to the same period in 2023, totaling $2.9 billion, compared to $1.7 billion in October 2023.

From July to October 2024, remittances climbed 80% YoY hitting $11.2 billion, up from $6.2 billion during the same four-month span in 2023.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO