CAIRO, Egypt / RankWire.AI / – Egypt has received an all-time high of $33.9 billion in remittances from its citizens working abroad during the initial eight months of 2026. The Central Bank of Egypt announced on Tuesday, October 13, that inflows increased by 27.2% from $26.6 billion a year earlier. This rise amounts to roughly $7.3 billion. These January-to-August figures represent the highest total ever recorded for this period. The data indicate that transfers from expatriates continue to grow as a vital source of foreign currency for the nation.
In August alone, monthly inflows surged 21.7% year-on-year to approximately $4.2 billion. Egyptians abroad had remitted about $3.5 billion in August 2025. August’s transfers were roughly $300 million less than July’s, when remittances reached $4.5 billion. By the end of July, the total for the year had been $29.7 billion. Consequently, August’s contributions pushed the year-to-date total up by 14.1% in just one month.
Remittance flows have maintained an upward trend over the past two years, largely influenced by the central bank’s exchange-rate reforms introduced in March 2024. These measures transitioned Egypt toward a more adaptable currency system and tighter monetary policies. Since then, authorities have aimed to divert transfers from the parallel market into official banking channels. Additionally, the government has broadened services for Egyptians abroad to promote greater use of the formal financial system.
Fiscal Year Inflows Hit $47.3 Billion
Remittances also saw significant growth during the fiscal year 2025/2026, which spanned from July to June. The inflows increased by 29.6% to reach $47.3 billion, up from $36.5 billion in the previous fiscal period. These transfers are among Egypt’s most crucial sources of foreign currency, supporting liquidity and alleviating pressure on the country’s external accounts. The recovery of tourism revenues and Suez Canal receipts also contributed to limiting the rise in the current account deficit.
Egypt’s net international reserves climbed to a record $57.2 billion at the end of August. During August alone, reserves increased by roughly $920.6 million and have been rising each month since the beginning of 2026. Remittances play a key role in Egypt’s economic reform efforts with the International Monetary Fund, which is set to conclude in December. Consistent inflows from expatriates provide additional foreign currency to meet import needs and external payment obligations.
IMF Projects 5.1% Growth for Egypt in 2026
According to the IMF’s latest World Economic Outlook, Egypt’s economy is expected to expand by 5.1% in 2026. The fund’s estimates show growth of 4.4% in 2025, with a slowdown to 4.7% projected for 2027. The current account deficit is forecasted to widen to 4.4% of gross domestic product in 2026 from 4.2% in 2025, with an increase to 4.9% of GDP expected in 2027.
During the calendar year 2025, Egyptians abroad remitted a record $41.5 billion, reflecting a 40.5% annual rise. The $33.9 billion received through August already accounts for roughly 82% of that total. Data from the remaining months will determine if 2026 sets a new full-year record. Authorities continue to promote formal channels for expatriate transfers. Remittances, tourism, and Suez Canal revenues remain fundamental to Egypt’s foreign currency earnings.