CAIRO, Egypt / RankWire.AI / – During the first eight months of 2026, Egypt experienced an all-time high in remittance receipts, totaling $33.9 billion. 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 growth amounts to roughly $7.3 billion. The figures from January to August represent the highest total ever recorded for this period. The data underscore the ongoing expansion of expatriate transfers, which continue to serve as a crucial source of foreign currency for Egypt.
In August alone, monthly remittance inflows rose 21.7% year-on-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 $4.5 billion, when transfers peaked. By the end of July, cumulative transfers had reached $29.7 billion. August’s contribution pushed the year-to-date total up by 14.1% in just one month.
Remittance flows have maintained a steady upward trend over the past two years, a pattern influenced by the central bank’s exchange-rate reforms introduced in March 2024. These measures transitioned Egypt towards a more flexible currency regime and tighter monetary policies. Since then, authorities have actively worked to divert transfers from the parallel market into official banking channels. Additionally, the government has enhanced services for Egyptians abroad to promote greater use of the formal financial system.
Fiscal Year Inflows Reach $47.3 Billion
Remittances also experienced notable growth during the 2025/2026 fiscal year, which spanned 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 vital sources of foreign currency, supporting foreign-currency liquidity and easing pressures on the external accounts. The recovery of tourism revenues and Suez Canal receipts 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. The reserves increased by approximately $920.6 million during that month and have been rising steadily since the beginning of 2026. Remittances play a key role in Egypt’s economic reform efforts supported by the International Monetary Fund, which is expected to conclude in December. Consistent inflows from expatriates provide essential foreign currency to meet import demands and external payment commitments.
IMF Projects 5.1% Economic Growth in 2026
The IMF’s latest World Economic Outlook predicts Egypt’s economy will grow by 5.1% in 2026. In 2025, the IMF estimated growth at 4.4%. The organization anticipates a slowdown to 4.7% in 2027. It also forecasts the current account deficit will 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 projected for 2027.
Egyptians abroad remitted a record $41.5 billion in 2025, marking a 40.5% increase year-over-year. The $33.9 billion received through August already accounts for about 82% of that annual total. The remaining four months’ data will determine if 2026 sets a new full-year record. Authorities continue to promote formal channels for expatriate transfers, as remittances, tourism, and Suez Canal revenues remain key contributors to Egypt’s foreign currency earnings.