{"id":655875,"date":"2024-11-25T00:00:00","date_gmt":"2024-11-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/"},"modified":"2024-11-25T00:00:00","modified_gmt":"2024-11-25T00:00:00","slug":"remittances-from-egyptians-abroad-double-y-o-y-in-september","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/","title":{"rendered":"Remittances from Egyptians abroad double y-o-y in September"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, all. <\/strong>It\u2019s another cold day here in the capital as we inch closer to the end of the fall season and prepare to welcome one chilly winter. <\/p>\n<p class=\"tag-border-left\">THE BIG STORY TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Remittances from Egyptians working abroad more than doubled y-o-y in <\/strong><strong>September to hit USD 2.7 bn<\/strong>, according to a central bank <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2348.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. This brings total remittances during the first nine months of the year to USD 20.8 bn, up from the USD 14.6 bn recorded during the same period last year. Remittances surged 84.4% y-o-y to USD 8.3 bn during 1Q of the FY 2024-25.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egyptians abroad have started <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ea59e39-6fc2-4391-a708-7c96349d5908\" style=\"\" rel=\"noopener\">sending<\/a> more of their remittances through official channels after the float of the EGP put an end to the parallel market that had pushed remittance flows through unofficial channels. Remittances are an important source of FX for the country and the state is working to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63475988-4cb4-4a7f-8124-9a9bc5677029\" style=\"\" rel=\"noopener\">increase flows<\/a> by 10% each year to reach USD 53 bn by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed afternoon for the international business pages: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/contentious-cop29-deal-shows-climate-cooperation-fraying-edges-2024-11-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> remains fixed on the outcome of COP29, while the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/37eca3f4-ed3d-4ccc-ae71-86312d156f35\" style=\"\" rel=\"noopener\">Financial Times<\/a> is reporting on UniCredit\u2019s EUR 10 bn offer for Banco BPM in a move that could \u201cconsolidate Europe\u2019s fragmented banking industry.\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-24\/dollar-s-sizzling-rally-cools-as-bessent-nominated-for-treasury?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> brings us coverage of the impact of US president-elect Donald Trump\u2019s pick for Treasury Secretary on markets \u2014 the USD saw its biggest decline in weeks and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-24\/dollar-falls-as-treasury-pick-tempers-trump-bets-markets-wrap?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">stocks and treasuries rose<\/a>. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>The International Finance Corporation\u2019s (IFC) Africa head S\u00e9rgio Pimenta\u2019s <\/strong><strong>trip to <\/strong><strong>the country<\/strong><strong> is making the headlines<\/strong>, with the private-sector focused World Bank Group member <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d236dd3-447b-4449-a68e-3207a0df2835\/ifc-commits-usd-300-mn-to-sustainability-bond-issuance,-usd-155-mn-in-green-financing-to-orascom-development,-usd-150-mn-to-the-cib-for-sme-on-lending\" style=\"\" rel=\"noopener\">helping launch<\/a> the country\u2019s first ever sustainability bond issuance, providing green financing for Orascom Development in El Gouna, and an on-lending package to CIB to fund local SMEs.<\/li>\n<li><strong>That new iPhone you\u2019ve been saving up for might just be about to get a whole <\/strong><strong>more expensive: <\/strong>Unregistered imported mobile phones <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4dd8203-fbef-4b21-a7e1-fede50d77192\/mobile-phones-imported-into-egypt-could-see-customs-and-tax-fees-totalling-37.5%2525\" style=\"\" rel=\"noopener\">could be subject to customs and tax fees<\/a> totaling 37.5% \u2014 including a 5% development fee tax \u2014 as part of incoming government regulations to support the country\u2019s mobile phone manufacturing localization efforts.<\/li>\n<li><strong>Egypt\u2019s first SPAC makes its EGX debut:<\/strong> Impact investor Catalyst Partners\u2019 SPAC, Catalyst Partners Middle East (CPME) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1734a401-c514-45e5-86bd-ec176e5c4f87\/egypt%25e2%2580%2599s-first-spac-starts-trading-on-the-egx\" style=\"\" rel=\"noopener\">made its EGX debut<\/a> yesterday.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>The cooler and windier days are set to continue, with tomorrow\u2019s mercury reaching a high of 20\u00b0C and a chilly low of 13\u00b0C in the capital, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, all. It\u2019s another cold day here in the capital as we inch closer to the end of the fall season and prepare to welcome one chilly winter. THE BIG STORY TODAY- Remittances from Egyptians working abroad more than doubled y-o-y in September to hit USD 2.7 bn, according to a central bank statement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":655876,"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":[7213],"tags":[633,2396,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-remittances","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"dbe7e622-2cab-4d1d-af1a-d9d937ac94d1","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/11\/1086.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[655873],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.3d2b2ffe-f18f-45da-a698-d9eff20f10f2.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Remittances from Egyptians abroad double y-o-y in September - 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\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remittances from Egyptians abroad double y-o-y in September\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, all. It\u2019s another cold day here in the capital as we inch closer to the end of the fall season and prepare to welcome one chilly winter. THE BIG STORY TODAY- Remittances from Egyptians working abroad more than doubled y-o-y in September to hit USD 2.7 bn, according to a central bank statement [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-25T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1086.jpeg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Remittances from Egyptians abroad double y-o-y in September\",\"datePublished\":\"2024-11-25T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/\"},\"wordCount\":447,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1086.jpeg?fit=%2C&ssl=1\",\"keywords\":[\"EnterprisePM\",\"remittances\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/\",\"name\":\"Remittances from Egyptians abroad double y-o-y in September - 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THE BIG STORY TODAY- Remittances from Egyptians working abroad more than doubled y-o-y in September to hit USD 2.7 bn, according to a central bank statement [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-11-25T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1086.jpeg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Remittances from Egyptians abroad double y-o-y in September","datePublished":"2024-11-25T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/"},"wordCount":447,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1086.jpeg?fit=%2C&ssl=1","keywords":["EnterprisePM","remittances","WHAT WE\u2019RE TRACKING TONIGHT"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/25\/remittances-from-egyptians-abroad-double-y-o-y-in-september\/","name":"Remittances from Egyptians abroad double y-o-y in September - 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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\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/450.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591835,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/remittances-rise-13-6-to-usd-6-7-bn-in-1q2019-2020\/","url_meta":{"origin":655875,"position":1},"title":"Remittances rise 13.6% to USD 6.7 bn in 1Q2019-2020","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"Remittances rise 13.6% in 1Q2019-2020: Remittances from Egyptians living abroad rose to USD 6.7 bn in 1Q2019-2020, up 13.6% y-o-y from USD 5.9 bn in the same period last year, according to Central Bank of Egypt figures (pdf). Remittances rose 33.2% to USD 2.3 bn in the month of September.","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":666546,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/10\/remittances-from-egyptians-abroad-continue-to-rise-in-march-reaching-usd-3-4-bn\/","url_meta":{"origin":655875,"position":2},"title":"Remittances from Egyptians abroad continue to rise in March, reaching USD 3.4 bn","author":"enterpriseam admin","date":"10 June 2025","format":false,"excerpt":"This marks the thirteenth consecutive month of y-o-y remittance growth","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":670860,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/27\/remittances-from-egyptians-abroad-hit-record-high-of-usd-36-5-bn-in-fy-24-25\/","url_meta":{"origin":655875,"position":3},"title":"Remittances from Egyptians abroad hit record high of USD 36.5 bn in FY 24-25","author":"enterpriseam admin","date":"27 August 2025","format":false,"excerpt":"On a monthly basis, remittances also hit the highest figure ever recorded for June, coming in at USD 3.6 bn","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1169.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574826,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/23\/remittances-rise-11-in-july\/","url_meta":{"origin":655875,"position":4},"title":"Remittances rise 11% in July","author":"enterpriseam admin","date":"23 September 2020","format":false,"excerpt":"Remittances from Egyptians working abroad rose 11% to USD 2.9 bn in July, up from USD 2.6 bn reported in July of 2019, according to state news agency MENA. Egyptians working abroad sent some USD 17 bn into the country during the first seven months of the year, up from\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570882,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/egypts-remittances-rise-33-y-o-y-in-january-and-february\/","url_meta":{"origin":655875,"position":5},"title":"Egypt\u2019s remittances rise 33% y-o-y in January and February","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"Remittances from Egyptians abroad for January and February rose by a third y-o-y to USD 5.2 bn, up from USD 3.9 bn in the same period last year, according to official data (pdf).","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=655875"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655875\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/655873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655876"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655875"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655875"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}