World Bank: Remittance inflows to Egypt continue increasing despite global decline
- Date: 30-Oct-2020
- Source: Egypt Today
- Sector:Financial Services
- Country:Egypt
World Bank: Remittance inflows to Egypt continue increasing despite global decline
File photo of the World Bank - Reuters
CAIRO - 30 October 2020: The World Bank expected Thursday that the remittances of the Egyptians, working abroad, would hit 24.4 billion dollars by the end of 2020, or 6.7 percent of GDP, despite the ramifications of the global outbreak of coronavirus.
“Remittances inflows to Egypt, the region's largest recipient, have so far been countercyclical to the crisis, as Egyptian workers abroad increase one-off transfers to their families