Egyptian remittances drop

The amount of money sent home by Egyptians living abroad in the three months ending in June dropped 23 percent to $1.832 billion year on year, the Central Bank of Egypt said on Thursday. Remittances from Egyptians living abroad in the previous three months were $1.738 billion, and were $2.393 billion in the April-June period last year.
Remittances are important source of foreign currency for Egypt, along with tourism, oil and gas exports and Suez Canal revenues.