Cairo – Mubasher: Remittances by Egyptian expats grew by 13.4%, or $1 billion, year-on-year during the first four months of the fiscal year 2019/2020.

Egyptians’ remittances rose to $9 billion in from July to October 2019, compared to $8 billion in the year-ago period, according to data released on Wednesday by the Central Bank of Egypt.

Remittances increased by 12.7% to $2.3 billion in October 2019, from $2.1 billion the year before.

Moreover, transfers by Egyptian expats declined to $25.15 billion in FY18/19, against $26.392 billion in FY17/18.