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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Maximization of the national benefit from savings of Egyptians working abroad
Author:Anonymous
Year:1988
Periodical:Economic Review
Volume:29
Issue:1
Pages:63-74
Language:English
Geographic term:Egypt
Subjects:migrant workers
savings
Abstract:Remittances of Egyptians working abroad are one of the main sources of foreign exchange in Egypt. The term 'Egyptians working abroad' is here confined to temporary emigrants working in Arab countries. The article estimates the total amount of savings of Egyptians working abroad by means of three determinants: 1) the estimated number of Egyptians working abroad; 2) their average income; 3) their propensity to save. Unrecorded savings are estimated through the residual method. Aggregate savings during the period 1974/75-1987/88 are estimated at 83 billion US dollars. Assuming that the number of Egyptians working abroad declines by 60,000 annually, according to the Ministry of Manpower forecasts, and that their average income remains almost unchanged, overall savings would amount to 60 billion US dollars over the 12-year period from 1988/89 to 1999/2000. Maximization of the benefit the country could gain from these savings requires much more attention. Notes.
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