Remittances from Egyptian expatriates hit 31.9 bln USD in fiscal 2021-2022

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Remittances from Egyptian expatriates hit 31.9 bln USD in fiscal 2021-2022

STORY: Remittances from Egyptian expatriates hit 31.9 bln USD in fiscal 2021-2022 DATELINE: Aug. 24, 2022 LENGTH: 00:01:03 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt (CBE) 2. various of an accountant counting banknotes 3. various of different banks and ATMs in Egypt STORYLINE: The remittances from Egyptian expatriates rose to 31.9 billion U.S. dollars in the fiscal year 2021-2022 ending June, the Central Bank of Egypt (CBE) said Tuesday. The figure registers a 1.6-percent increase from 31.4 billion dollars in the fiscal year 2020-2021, according to a CBE statement. Official statistics show some 13 million Egyptians living and working abroad, mainly in the Gulf countries. "Remittances from Egyptian expats, which were more than the total revenues of direct investments, Suez Canal and tourism in the fiscal year 2021-2022, have become a cornerstone of Egypt's economy," Egyptian economist Karim Al-Omda said. He explained that the Egyptian workers abroad p

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