Egypt: Prime Minister - Foreign Remittances Up 40 Percent in 2011

Foreign remittances to Egypt jumped by 40 percent in 2011 compared to the previous year, boosting the foreign cash reserve, said Prime Minister Hisham Qandil on Sunday 6/1/2013.

The remittances were the largest source of the foreign currency during the past two years, Qandil told a news conference at the presidential palace.

The premier also noted that a seven-point plan has been offered by the government to address the budget deficit.

He said a program for economic and financial reform should be carried out to lure more financial flows into the economy.

Ads by Google

Copyright © 2013 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.