{"id":206185,"date":"2021-08-18T09:30:49","date_gmt":"2021-08-18T09:30:49","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=206185"},"modified":"2021-08-18T08:29:14","modified_gmt":"2021-08-18T08:29:14","slug":"remittances-from-egyptians-abroad","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/remittances-from-egyptians-abroad\/","title":{"rendered":"Remittances from Egyptians abroad reach $2.6 billion in May"},"content":{"rendered":"

Remittances from Egyptians working abroad jumped to $2.6 billion in May, compared to $1.8 billion a year ago, according to the Central Bank of Egypt.<\/p>\n

The Central Bank of Egypt stated that remittances increased 13% in the first 11 months of the 2020-2021 fiscal year to $28.5 billion from $25.2 billion a year ago.<\/p>\n

Data issued last June stated that the remittances of Egyptians working abroad amounted to about $205.3 billion, representing about 31.7$ of Egypt’s total foreign exchange earnings over 10 years.<\/p>\n

Remittances from Egyptians abroad <\/strong><\/h2>\n

Data issued by the Central Agency for Public Mobilization and Statistics indicated that the value of remittances for Egyptians working abroad amounted during the 2010\/2011 fiscal year to about $12.6 billion, rising during the 2011\/2012 fiscal year to about $18 billion, with a growth rate of about 42.7%.<\/p>\n

The value of remittances during the fiscal year 2012\/2013 amounted to about $18.7 billion, an increase of 3.9%. However, it returned to a decline of 8% during the fiscal year 2013\/2014, after recording about $18.5 billion.<\/p>\n

During the fiscal year 2014\/2015, remittances from Egyptians working abroad increased to about $19.3 billion, an increase of 4.4% over the figures for the previous fiscal year.<\/p>\n

Then it returned to decline during the fiscal year 2015\/2016 to the level of $17.1 billion, recording a decline of 11.7%.<\/p>\n

Flotation decisions<\/strong><\/h2>\n

Due to the issuance of the flotation decisions on November 1, 2016, the remittances of Egyptians working abroad recorded a big jump during the fiscal year 2016\/2017, reaching about $21.8 billion, with a growth rate of 27.7%.<\/p>\n

Then it continued to rise during the fiscal year 2017\/2018 to record about $26.4 billion, with a growth rate of about 21%.<\/p>\n

During the fiscal year 2018\/2019, the value of remittances amounted to about $25.2 billion, a decline of 4.7%, and then rose again by 10.4% during the fiscal year 2019\/2020 to record about $27.8 billion.<\/p>\n

Official figures showed that the total foreign currency inflows at the National Bank of Egypt and the central bank amounted to about $240 billion, from November 2016 to the current month.<\/p>\n

In November 2016, the Egyptian government announced the start of implementing the economic reform program.<\/p>\n

The plan began by floating the Egyptian pound against the dollar and completely liberalizing the exchange market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Remittances from Egyptians working abroad jumped to $2.6 billion in May, compared to $1.8 billion a year ago, according to the Central Bank of Egypt. The Central Bank of Egypt stated that remittances increased 13% in the first 11 months of the 2020-2021 fiscal year to $28.5 billion from $25.2 billion a year ago. Data […]<\/p>\n","protected":false},"author":4,"featured_media":206186,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[278],"class_list":["post-206185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-featured"],"yoast_head":"\nRemittances from Egyptians abroad reach $2.6 billion in May<\/title>\n<meta name=\"description\" content=\"BNReport - Remittances from Egyptians working abroad jumped to $2.6 billion in May, compared to $1.8 billion a year ago, according to the Central Bank.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/remittances-from-egyptians-abroad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remittances from Egyptians abroad reach $2.6 billion in May\" \/>\n<meta property=\"og:description\" content=\"BNReport - 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