Cairo - Mubasher: Money transfers from Egyptians working abroad have totalled $20 billion by the end of 2017, according to a recent report by the World Bank Group.
The prospect of a growth in transfers remains weak, due to the challenging labor market in Saudi Arabia, with rising costs of living in the Saudi kingdom, as well as the United Arab Emirates (UAE).
Transfers to the Middle East and North Africa (MENA) regions grew by 9.3% last year to a total of $53 billion, supported by the surge in those to Egypt.
On the global level, transfers are forecasted to rise by 4.6% this year to $642 billion by the end of 2018.
