Cairo – Mubasher: Remittances from expatriate Egyptians increased by $3.6 billion during the first nine months of fiscal year 2017/2018.
Remittances stood at $19.53 in the July-March period of FY17/18, versus $15.8 billion in the same month a year earlier, according to a statement issued by the Central bank of Egypt (CBE) on Thursday.
The CBE also posted that the current account deficit retreated by around 57.5% year-on-year, or $7.2 billion, in the first nine months of FY17/18.
Moreover, total surplus of the payment balance fell slightly to $10.96 billion in the nine-month period, versus $10.98 billion in the same prior a year earlier.
It is worth noting that the Ministry of Finance (MOF) had reported a 24.1% rise in remittances from Egyptian expats in the first eight months of the current fiscal year.
