(Ecofin Agency) - In Egypt, remittances reached $26.8 billion in 2019, 5% higher than the $25.5 billion the previous year. Figures were provided by the Central Bank in a statement issued on March 19.

This growth is also up from the estimated 3.1% growth in 2018. According to the Bank, this overall increase is due to a sharp rise in remittances in the second half of 2019, reaching $13.7 billion; an increase of 13.5% compared to the same period in 2018.

Along with tourism and foreign investments, remittances constitute one of Egypt's main sources of foreign exchange.

Moutiou Adjibi Nourou