Egyptian expatriates remittances hit $ 2.9 billion

The Egyptian expatriates' remittances totaled $2.999 billion in the fiscal year 2003/2004. The US topped the countries from where the Egyptians abroad send their remittances with $1.111 billion.

The Kingdom of Saudi Arabia ranked second with $951 million, United Arab Emirates ranked third with $278 million, then came Germany with $131 million.

In a related development, Prime Minister Ahmed Nazif asked for drawing up a study to define priorities and needs of the Egyptians abroad before taking proper decisions for attracting their funds for investment in the homeland.