Egypt: Remittances rose by 3.1% to $25.5 billion in 2018
Wednesday, 13 February 2019 15:28
Remittances from the Egyptian diaspora reached $25.5 billion in 2018, representing a 3.1% increase compared with the $24.7 billion of 2017, according to figures published by Central Bank of Egypt on February 12, 2019.
Remittances have become the main sources of foreign exchange reserves in Egypt where it is still hard for authorities to boost exports and foreign direct investments despite tedious economic reforms initiated in the framework of the support program signed with the IMF in 2016.
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