{"id":554158,"date":"2021-12-22T03:57:27","date_gmt":"2021-12-22T03:57:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/remittances-up-1-5-in-1q2021-2022\/"},"modified":"2021-12-22T03:57:27","modified_gmt":"2021-12-22T03:57:27","slug":"remittances-up-1-5-in-1q2021-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/remittances-up-1-5-in-1q2021-2022\/","title":{"rendered":"Remittances up 1.5% in 1Q2021-2022"},"content":{"rendered":"

<\/a> Remittances from Egyptians abroad were up 1.5% y-o-y to USD 8.1 bn in the first quarter of FY 2021-2022<\/strong>, the central bank announced in a statement (pdf)<\/a>. The quarterly figure rose despite September being a slow month, with remittances dipping 3% y-o-y to USD 2.6 bn. In August, remittances grew 11.6% y-o-y to USD 2.7 bn.<\/p>\n

On the up and up:<\/strong> The 1.5% increase for the first quarter of the state\u2019s fiscal year comes on the back of a steep rise in remittances in the last quarter of FY 2020-2021, when inflows rose almost 30% y-o-y<\/a> to USD 8.1 bn.<\/p>\n

The figures tally with estimates that remittance inflows are on course to hit a record high this year<\/strong>, as higher oil prices and the global economic recovery fuel an increase in transfers, according to arecent World Bank<\/a>report. Transfers from Egyptians abroad are projected to increase almost 13% to USD 33 bn this year, making Egypt one of the world\u2019s top five recipients of remittances in USD terms, and continuing a trend that saw inflows shrug off the pandemic to register fresh highs<\/a> last fiscal year. Remittances have been vital over the past two years to make up for the covid-induced slump in foreign direct investment and tourism revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"

Remittances from Egyptians abroad were up 1.5% y-o-y to USD 8.1 bn in the first quarter of FY 2021-2022, the central bank announced in a statement (pdf). The quarterly figure rose despite September being a slow month, with remittances dipping 3% y-o-y to USD 2.6 bn. In August, remittances grew 11.6% y-o-y to USD 2.7 […]<\/p>\n","protected":false},"author":1,"featured_media":554159,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[271,104,72,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-central-bank-of-egypt","tag-economy","tag-enterpriseam","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"dc6d70d7-f7af-47ec-b897-fc519360af3c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/450.jpg","photo_position":"above","related_issue":[554150],"teaser":"","voice_url":""},"yoast_head":"\nRemittances up 1.5% in 1Q2021-2022 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/remittances-up-1-5-in-1q2021-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remittances up 1.5% in 1Q2021-2022\" \/>\n<meta property=\"og:description\" content=\"Remittances from Egyptians abroad were up 1.5% y-o-y to USD 8.1 bn in the first quarter of FY 2021-2022, the central bank announced in a statement (pdf). The quarterly figure rose despite September being a slow month, with remittances dipping 3% y-o-y to USD 2.6 bn. 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