Egypt expatriates’ remittances drop amid new saving options ...Kuwait

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Egypt expatriates’ remittances drop amid new saving options
source : The New Arab ( Kuwait ) () 13
At a time when the Egyptian economy has been undergoing an unforgiving economic crisis and a shortage of foreign currency, the country's expatriates' remittances have dropped by 26.1 per cent, which seemed to have led the government to take measures in a bid to attract more inflows of the green currency. The remittances of Egyptians working abroad amounted to only US$17.5 billion in the first three quarters of 2022/2023, compared to US$23.6 billion in the same period in the previous fiscal year, local news outlets reported this week, citing the Central Bank of Egypt (CBE). The expatriates' transfers represent a primary foreign currency source for the country that has a

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