Remittances of Egyptian expats up 5 pct in 2019: central bank

Source: Xinhua| 2020-03-19 23:02:24|Editor: Mu Xuequan
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CAIRO, March 19 (Xinhua) -- The remittances of Egyptian expatriates in 2019 grew by five percent year on year, according to a statement by the Central Bank of Egypt (CBE) released on Thursday.

"The remittances increased to 26.8 billion U.S. dollars in 2019 from 25.5 billion dollars in the previous year," said the CBE statement.

In the second half of 2019, the remittances reached 13.7 billion dollars, compared to 12.1 billion dollars in the same period in 2018.

The remittance of Egyptian expatriates, along with the revenue of the Suez Canal, the tourism sector and the foreign investment, is a major source of foreign currency in the North African country.