Cairo-Mubasher: Remittances sent from Egyptians working abroad declined 14% in the third quarter of 2015-2016, according to a report by the Central Agency for Public Mobilisation and Statistics (CAPMAS).
Expat remittances reached $4.2 billion in Q3-16, compared to $4.9 billion in Q3-15.
Egypt depends on its hard currency sources to support the cash reserves which declined from $36 billion in January 2011 to reach $16.5 billion by the end of August 2016.
