Cairo – Mubasher: Remittances of Egyptians working abroad increased by 1.6% in fiscal year (FY) 2021/2022 to $31.90 billion, compared to $31.40 billion in FY20/21, according to recent data by the Central Bank of Egypt (CBE).

During the April-June period in 2022, remittances of Egyptian expats grew by 3% to $8.30 billion, compared to $8.10 billion in the corresponding period a year earlier.

In June 2022 alone, the remittances registered $2.8 billion, down from $2.9 billion in June 2021.

It is worthy to point out that during the July-May period in FY21/22, Egyptian expats’ remittances rose by 2.1% on an annual basis to $29.1 billion, compared with $28.5 billion.