CAIRO, Egypt / RankWire.AI / – During the initial eight months of 2026, Egypt saw a historic inflow of $33.9 billion in remittances from nationals working abroad. The Central Bank of Egypt announced on Tuesday, October 13, that these inflows increased by 27.2% compared to $26.6 billion recorded a year earlier. This rise represents an approximate gain of $7.3 billion. The figures from January to August are the highest ever recorded for this period. The data indicate that expatriate transfers continue to grow as a vital source of foreign currency for Egypt.
In August alone, monthly remittance inflows surged 21.7% year-on-year to around $4.2 billion, up from about $3.5 billion sent by Egyptians abroad 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 been on an upward trend for the past two years, driven by the central bank’s exchange-rate reforms introduced in March 2024. These reforms moved Egypt toward a more adaptable currency system and adopted a tighter monetary policy. Since then, authorities have aimed to shift transfers from the parallel market into official banking channels. Efforts to promote the use of formal financial services among Egyptians living abroad have also been expanded.
Fiscal year inflows reach $47.3 billion
Remittances experienced robust growth during the fiscal year 2025/2026, which spanned from July to June. Total 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, helping to bolster foreign-currency liquidity and easing pressures on external accounts. The recovery in tourism income alongside Suez Canal revenues also contributed to containing the rise in the current account deficit.
Egypt’s net international reserves hit a record $57.2 billion at the end of August. During that month alone, reserves increased by approximately $920.6 million, and they have grown steadily each month since the start of 2026. Remittances remain a crucial component of Egypt’s economic reform efforts with the International Monetary Fund, which is set to conclude in December. Consistent inflows from expatriates provide vital foreign currency to meet import requirements and external payment obligations.
IMF anticipates 5.1% growth for Egypt in 2026
The latest World Economic Outlook from the IMF projects Egypt’s economic expansion at 5.1% in 2026, following a growth rate of 4.4% in 2025, as per the fund’s estimates. The IMF forecasts 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, up from 4.2% in 2025, with a further increase to 4.9% of GDP in 2027.
Egyptians abroad remitted a record $41.5 billion during the calendar year 2025, reflecting a 40.5% increase annually. The $33.9 billion received through August already accounts for roughly 82% of that total. The remaining four months’ data will determine if 2026 sets a new annual record. The government continues to promote formal channels for remittance transfers, emphasizing the importance of remittances, tourism, and Suez Canal revenues as key sources of Egypt’s foreign currency earnings.