Remittances from Egyptians abroad were $12 billion in H1-FY2022/23 – central bank

Remittances from Egyptians working abroad amounted to $12 billion in the first half of the 2022-2023 financial year, down from 15.6 billion a year prior, the central bank said in a statement on Wednesday.

A key source of foreign currency for Egypt, remittances fell 23 percent year-on-year in the July-December 2022 half, the central bank further added in a statement.