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Egypt draws $12bn cash inflows year-to-date – CBE official

Egypt draws $12bn cash inflows year-to-date – CBE official
These inflows included remittances from Egyptians living abroad

Cairo – Mubasher: Egypt has attracted more than $12 billion of cash inflows since the beginning of 2020, the Middle East News Agency (MENA) reported, citing an official source at the Central Bank of Egypt (CBE).

These inflows included remittances from Egyptians living abroad, foreign investments in treasury bills, as well as proceeds from exports and tourism, the source told the state-run news agency on Sunday.

It is noteworthy that CBE revealed that during the July-November period of 2019, remittances from Egyptian expatriates increased by $1.2 billion or 12.1% year-on-year to $11.1 billion from $9.9 billion.