Egypt : positive signs for the country’s foreign reserves

Financial stability comes back to Egypt following president al-Sisi’s economic reforms © RR

Casablanca, (ADV) – Remittances from Egyptians abroad are expected to hit $26 billion for the 2017-18 fiscal year that ended in June, the central bank said late on Tuesday.

The report attributed this expectation to the actual amount of remittances that recorded $21.9 billion during the period from July-to-April in 2017/2018.

Still, the $26 billion year-end total marks a 49 percent rise from the $17.453 billion Egypt netted the previous fiscal year according to central bank data.

© Bur-csa – ADV