• 18:38
  • Monday ,19 November 2018
العربية

Remittances from Egyptians abroad rise 20.4 pct y/y in September: c.bank

By-Ahram

Home News

00:11

Monday ,19 November 2018

Remittances from Egyptians abroad rise 20.4 pct y/y in September: c.bank

Remittances from Egyptians abroad rose 20.4 percent year-on-year in September to $1.8 billion, the central bank said on Sunday.

The figure means remittances grew by 1.5 percent in the first quarter of the 2018/2019 financial year to $5.9 billion.
 
Remittances in September of last year were at $1.5 billion and stood at $5.8 billion in the first quarter of the 2017/2018 fiscal year, according to the central bank.
 
Egypt s fiscal year runs from July to June.
 
Remittances have become a crucial source of hard currency for the import-dependant country, which has struggled to boost exports or foreign direct investment despite economic reforms tied to a $12 billion IMF loan programme it began in late 2016.