CAIRO, Egypt / RankWire.AI / – During the initial eight months of 2026, Egypt experienced a record inflow of $33.9 billion in remittances from citizens working overseas. The Central Bank of Egypt announced on Tuesday, October 13, that these inflows increased by 27.2% compared to $26.6 billion in the same period last year. This rise amounts to roughly $7.3 billion. The January to August period’s figures represent the highest total ever recorded for that timeframe. The data demonstrate that remittances from expatriates continue to grow as a vital source of foreign currency for Egypt.
In August alone, monthly remittance inflows surged 21.7% year-over-year to approximately $4.2 billion. Egyptians abroad had sent about $3.5 billion in August 2025. August’s remittances were roughly $300 million less than July’s, which totaled $4.5 billion. By the end of July, transfers had accumulated to $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, influenced by the central bank’s exchange-rate reforms implemented in March 2024. These measures shifted Egypt toward a more flexible currency regime and adopted tighter monetary policies. Since then, authorities have aimed to redirect transfers away from the parallel market and into official banking channels. The government has also enhanced services for Egyptians living abroad to promote greater use of the formal financial system.
Fiscal year inflows hit $47.3 billion
Remittances experienced notable growth during the fiscal year 2025/2026, spanning from July to June. Inflows increased by 29.6%, reaching $47.3 billion, compared to $36.5 billion in the previous fiscal year. These transfers are among Egypt’s most critical sources of foreign currency, supporting liquidity and easing pressure on external accounts. The rebound in tourism revenues and Suez Canal receipts also contributed to containing the rise in the current account deficit.
At the end of August, Egypt’s net international reserves hit a record $57.2 billion. The reserves increased by approximately $920.6 million during August alone and have been rising every month since the start of 2026. Remittances play a crucial role in Egypt’s economic reform plan with the International Monetary Fund, which is scheduled to conclude in December. The steady inflows from expatriates provide additional foreign currency needed to meet import demands and external payment commitments.
IMF forecasts 5.1% growth for Egypt in 2026
According to the IMF’s latest World Economic Outlook, Egypt’s economy is projected to grow by 5.1% in 2026. Growth was estimated at 4.4% in 2025. The IMF anticipates a slowdown to 4.7% in 2027. It also predicts the current account deficit will expand to 4.4% of gross domestic product in 2026 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 in 2025, reflecting a 40.5% increase year-over-year. The $33.9 billion received through August already accounts for about 82% of that annual total. Data from the remaining four months will determine if 2026 surpasses previous records. The government continues to promote official transfer channels for expatriates, with remittances, tourism, and Suez Canal revenues remaining vital components of Egypt’s foreign currency earnings.