Egyptian expat remittances reach US$19 bn in 2012

Egyptian expat remittances reach US$19 bn in 2012

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Sat, 19/01/2013 - 14:11

Total remittances from Egyptian expats increased to US$19 billion in 2012, a $4 billion increase from 2011, according to Central Bank statistics.

 

“Day after day Egyptians abroad practically prove their love for Egypt and the strong bonds that bind them, (..) a love that rise above personal interests, party affiliations and presidential or ministerial links,” Ayman Ali, the president's advisor for Egyptians abroad, said in a statement Saturday.

Ali added that total remittances within the last six months have reached $9.1 billion, which is a $1.1 billion increase from the same period in 2011. Remittances from July to December 2011 totaled about $8 billion.
 
Ali also claimed that total remittances reached $1.4 billion in December 2012 alone, a figure he said was the result of intense campaigning by expat Egyptian groups to encourage Egyptians abroad to send money back.