External secretary "Egyptians": The high rate of remittances from Egyptians abroad reflects the success of the country’s economic path
Dr. Mohamed Haroun, Secretary of the Foreign Relations Committee of the “Egyptians” Party, confirmed that The high rates of remittances from Egyptians abroad represent a positive indicator of the success of the economic policies pursued by the Egyptian state under the leadership of President Abdel Fattah El-Sisi, explaining that this increase reflects the confidence of Egyptians abroad in their homeland’s economy, especially after the implementation of the flexible exchange rate system, which contributed to improving the attractiveness of financial transfers via Official channels.
Haroun explained, in a statement today, Tuesday, that the economic policies that the state has pursued since the liberation The exchange rate in 2016 until now has resulted in gradual stability in the currency market and an increase in the competitiveness of the Egyptian pound, which has strengthened the confidence of workers abroad and prompted them to transfer their money through the Egyptian banking system, stressing that the rise in remittances from Egyptians abroad is not just an economic figure, but rather a reflection of the success of The state is trying to achieve a balance between its monetary and economic policies and meeting the needs of its expatriate citizens.
The Secretary of the Party’s Foreign Relations Committee added ”Egyptians“ The initiatives launched by the state to stimulate remittances from Egyptians abroad, such as the “Bait Al Watan” initiative, played a major role in consolidating the relationship between workers abroad and their homeland, explaining that this initiative provided distinctive investment opportunities in real estate for Egyptians abroad at competitive prices, which encouraged many to direct their savings. To invest in Egypt, and thus raise remittance rates.
He pointed out that the “Cars for Workers Abroad” initiative also allowed them The possibility of importing cars exempt from customs in exchange for five-year dollar deposits, stressing that this initiative helped attract a large segment of Egyptians abroad to benefit from the facilities granted, stressing the importance of such initiatives whose benefit is not limited to increasing remittances, but also contributes to enhancing the feeling By belonging to the homeland and providing tangible material incentives for expatriates.
Dr. Haroun praised the The role of Egyptian communities abroad, considering that they represent one of the most important tributaries of the Egyptian economy, as their remittances are an essential source of foreign currency, which contributes to supporting foreign exchange reserves and meeting the needs of the local market for goods and services, stressing that these remittances support the stability of the Egyptian economy and contribute to financing projects. Grand Nationalism.
The Secretary of the Foreign Relations Committee of the “Egyptians” Party called for He called for the continued development of policies and initiatives targeting Egyptians abroad, stressing the need to provide more facilities for investment procedures and the continued development of economic infrastructure, noting the importance of strengthening communication with Egyptian communities abroad through embassies and consulates, to provide them with the necessary support and encourage them to contribute to the development of their homeland. .
