CAIRO, May 13 (NNN-MENA) – Remittances from Egyptian expatriates increased by 72.4 percent from Mar, 2024 to Feb, 2025, reaching approximately 32.6 billion U.S. dollars, the Central Bank of Egypt (CBE) said in a report, yesterday.
The report attributed the “unprecedented” surge – nearly 13.7 billion dollars, in a 12-month period – to the economic reform measures taken since Mar, 2024.
In Feb, remittances from Egyptians working abroad rose to 3.0 billion dollars, more than double the figure of 1.3 billion dollars in the same month of last year, the CBE noted.
Remittances, alongside foreign investments and revenues from the Suez Canal and the tourism industry, are key contributors to Egypt’s foreign currency reserves, helping to support the nation’s overall economy.– NNN-MENA