CAIRO - 14 March 2022: Remittances from Egyptian expatriates increased by approximately $1.9 billion in 2021, the Central Bank of Egypt (CBE) announced Monday.
The CBE clarified that the remittances recorded $31.5 billion, compared to $29.6 billion in 2020
Preliminary data also showed an increase in remittances during December 2021 at a rate of 3.4 percent on an annual basis, to record about $2.64 billion, compared to about $2.55 billion in December 2020.
Earlier, the CBE stated that remittances from Egyptian expatriates jumped 6.6 percent or $1.8 billion during the first 11 months of 2021 on an annual basis, recording $28.9 billion.
Deputy Governor of the Economic Research Sector at the Central Bank of Egypt (CBE), Adel Abdel Azim, said in a statement that preliminary data showed a decline in remittances during November 2021 at a rate of 3.9 percent on an annual basis, to record about $2.5 billion, compared to about $2.6 billion in November 2020. While it recorded an increase compared to October 2021, at a rate of 8.7 percent.
During the first nine months of 2021, the remittances from Egyptian expatriates jumped 8.8 percent or $1.9 billion on an annual basis, recording $24 billion, according to data from the Central Bank of Egypt (CBE).
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