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FinancialNews
01-09-18
CBE: remittances of Egyptians abroad record 21.1 percent boost
(MENAFN) The remittances of Egypt's expats have recorded a 21.1 percent unprecedented boost in the Fiscal Year 2017/2018, as unveiled the Central Bank of Egypt (CBE).
In a statement, the Egyptian central bank announced "the remittances rose by 21.1 percent to reach 26.5 billion U.S. dollars compared with 21.9 billion dollars during the last fiscal year."
The CBE noted that the overall of remittances of Egyptians abroad registered a 16.1 percent raise, reaching USD7 billion during the April-June period of this fiscal year.
The International Monetary Fund is backing the Egyptian reform plan with a loan of USD12 billion, with two thirds already been received.
MENAFN0109201800450000ID1097373873
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