CAIRO, Egypt / RankWire.AI / – Egypt received a record $33.9 billion in remittances from citizens working abroad during the first eight months of 2026. The Central Bank of Egypt said on Tuesday, October 13, that inflows rose 27.2% from $26.6 billion a year earlier. The gain equaled about $7.3 billion. The January to August figures mark the highest total recorded for the period. The data show expatriate transfers continuing to expand as a major source of foreign currency for the country.
Monthly inflows in August climbed 21.7% from a year earlier to around $4.2 billion. Egyptians abroad had sent approximately $3.5 billion in August 2025. August transfers were about $300 million lower than in July, when remittances reached $4.5 billion. The cumulative total had stood at $29.7 billion by the end of July. August’s contribution therefore raised the year-to-date figure by 14.1% in a single month.
Remittances have maintained a rising trajectory for the past two years. The trend followed the central bank’s exchange-rate reforms in March 2024. Those measures shifted Egypt toward a more flexible currency regime and tighter monetary policy. Authorities have since worked to steer transfers away from the parallel market and into official banking channels. The government has also expanded services for Egyptians living overseas to encourage greater use of the formal financial system.
Fiscal year inflows reach $47.3 billion
Remittances also posted strong growth across fiscal year 2025/2026, which ran from July to June. Inflows rose 29.6% to $47.3 billion, compared with $36.5 billion in the previous fiscal year. The transfers rank among Egypt’s most important sources of hard currency. They support foreign-currency liquidity and reduce pressure on the external accounts. Recovering tourism revenues and Suez Canal receipts also helped contain the rise in the current account deficit.
Egypt’s net international reserves reached a record $57.2 billion at the end of August. The reserve total rose by about $920.6 million during August alone and has increased every month since the start of 2026. Remittances also play a significant role in Egypt’s economic reform program with the International Monetary Fund. The program is scheduled to end in December. Steady expatriate inflows provide additional foreign currency as Egypt meets import needs and external payment obligations.
IMF sees growth rising to 5.1% in 2026
The IMF’s latest World Economic Outlook forecasts Egyptian economic growth of 5.1% in 2026. Growth reached 4.4% in 2025, according to the fund’s estimates. The IMF expects expansion to ease to 4.7% in 2027. It also sees the current account deficit widening to 4.4% of gross domestic product in 2026 from 4.2% in 2025. The fund projects a further increase to 4.9% of GDP in 2027.
Egyptians abroad sent a record $41.5 billion during calendar year 2025, a 40.5% annual increase. The $33.9 billion received through August already equals about 82% of that annual total. Data for the remaining four months will determine whether 2026 sets a new full-year record. Authorities continue to promote formal transfer channels for expatriates. Remittances, tourism and Suez Canal revenue remain key pillars of Egypt’s foreign currency earnings.
