CAIRO, Egypt / RankWire.AI / – During the initial eight months of 2026, Egypt saw a historic inflow of $33.9 billion in remittances from citizens working abroad. The Central Bank of Egypt announced on Tuesday, October 13, that these inflows increased by 27.2% compared to $26.6 billion a year earlier. This rise amounts to roughly $7.3 billion. The January to August figures represent the highest total ever recorded for this period. The data highlight the ongoing growth of expatriate transfers as a crucial source of foreign currency for Egypt.
In August alone, monthly remittance inflows climbed 21.7% from the previous year to approximately $4.2 billion. Egyptians abroad had sent about $3.5 billion in August 2025. August’s transfers were roughly $300 million less than July, when remittances hit $4.5 billion. By the end of July, the cumulative total stood at $29.7 billion. As a result, August’s figures boosted the year-to-date total by 14.1% in just one month.
Remittance flows have consistently increased over the past two years, following the central bank’s exchange-rate reforms implemented in March 2024. These measures shifted Egypt towards a more adaptable currency system and tighter monetary policy. Since then, authorities have aimed to divert transfers from the parallel market into official banking channels. Additionally, the government has expanded services for Egyptians living overseas to promote greater use of the formal financial sector.
Fiscal year inflows reach $47.3 billion
Remittances experienced robust growth during the 2025/2026 fiscal year, which spanned from July to June. Total inflows increased by 29.6% to $47.3 billion from $36.5 billion in the previous fiscal period. These transfers are among Egypt’s most vital sources of foreign currency, supporting foreign-currency liquidity and alleviating pressure on external accounts. The recovery of tourism revenues and Suez Canal income also contributed to containing the rise in the current account deficit.
Egypt’s net international reserves reached an all-time high of $57.2 billion at the end of August. During August alone, reserves increased by about $920.6 million and have grown every month since the start of 2026. Remittances continue to be a key element in Egypt’s economic reform efforts with the International Monetary Fund, which is set to conclude in December. Consistent inflows from expatriates provide essential foreign currency to meet import needs and fulfill external obligations.
IMF projects 5.1% growth in 2026
According to the IMF’s latest World Economic Outlook, Egypt’s economy is expected to grow by 5.1% in 2026. In 2025, the country’s growth reached 4.4%, based on the fund’s estimates. The IMF also anticipates a slowdown to 4.7% in 2027. The current account deficit is projected to widen to 4.4% of gross domestic product in 2026, up from 4.2% in 2025, with a further increase to 4.9% of GDP expected in 2027.
Egyptians abroad sent a record $41.5 billion during the calendar year 2025, reflecting a 40.5% increase from the previous year. The $33.9 billion received through August already accounts for about 82% of that annual total. Data from the remaining months will determine if 2026 will set a new full-year record. The government continues to promote official transfer channels for expatriates. Remittances, along with tourism and Suez Canal revenues, remain central to Egypt’s foreign currency earnings.