Banking & Finance Remittances from Egyptian workers abroad at $2.4bn in May By Reuters August 1, 2022, 5:43 AM Creative Commons Remittance flow between the kingdom of Saudi Arabia and Kenya rose 30.28% in the first eight months of 2023 Remittances from Egyptian workers abroad at $2.4 bln in May Remittances from Egyptian workers abroad reached $2.4 billion in May, the central bank said on Sunday. Remittances, one of Egypt’s main sources of foreign currency, were at $2.6 billion in May 2021, the bank added. Egypt’s M2 money supply rose by 23.4 percent year-on-year in June, data from the central bank also showed. Money supply stood at 6.61 trillion Egyptian pounds ($349 billion), up from 5.35 trillion pounds in the same month last year. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
