CAIRO, Egypt / RankWire.AI / – Remittances sent by Egyptians working abroad experienced a 27.2% increase in the first eight months of 2026, reaching an all-time high of $33.9 billion. The Central Bank of Egypt announced these figures on Tuesday, October 13. During the same period in 2025, inflows amounted to $26.6 billion. The year-over-year rise was approximately $7.3 billion. Covering January through August, the latest data confirm that transfers from Egyptian expatriates continued to grow throughout 2026, contributing significantly to the country’s foreign currency reserves.
Remittances in August alone increased by 21.7% compared to the previous year, reaching about $4.2 billion. In August 2025, inflows were around $3.5 billion. Although the monthly total was about $300 million less than July 2026, when transfers hit $4.5 billion, August still contributed roughly $4.2 billion to the cumulative total. In the first seven months of 2026, remittances amounted to $29.7 billion, so the August figure pushed the total for the period up by 14.1%.
This upward trend has persisted for over two years. The central bank implemented exchange-rate reforms in March 2024, shifting towards a more flexible exchange-rate system and tightening monetary policy. Since then, official channels for transfers have steadily increased. The government has promoted Egyptians abroad to send money through formal banking systems rather than the parallel market and has expanded financial services available to overseas Egyptians.
Remittances Bolster Egypt’s External Financial Position
Among Egypt’s primary sources of foreign currency, remittances play a vital role. They bolster foreign-currency liquidity within the banking system and help ease pressures on the nation’s external accounts. In fiscal year 2025/2026, which concluded in June, remittances rose by 29.6% to $47.3 billion, up from $36.5 billion the previous year. The increase was also supported by recovering tourism revenues and Suez Canal receipts, which helped mitigate the growth of Egypt’s current account deficit during that period.
The strong flow of remittances has coincided with a rise in Egypt’s foreign reserves. According to central bank data, net international reserves reached a record $57.2 billion at the end of August 2026. These transfers are a key component of Egypt’s economic reform program with the International Monetary Fund, which is scheduled to conclude in December. Higher inflows provide policymakers with additional foreign currency to manage import needs and external obligations effectively.
IMF Forecasts Accelerated Economic Growth for Egypt in 2026
According to the IMF’s latest World Economic Outlook, Egypt’s economy is projected to expand by 5.1% in 2026, an increase from 4.4% in 2025. The organization anticipates a slowdown to 4.7% growth in 2027. The forecast also indicates the current account deficit will widen from 4.2% of gross domestic product in 2025 to 4.4% in 2026, reaching 4.9% of GDP in 2027.
Remittances for the calendar year hit a record $41.5 billion in 2025, representing a 40.5% rise from the previous year. As of the end of August, inflows for 2026 have already reached approximately 82% of that total, with $33.9 billion received so far. The central bank’s monthly data will indicate whether this momentum persists through the remaining four months. Authorities continue to advocate for Egyptians abroad to use formal transfer channels. Remittances remain a crucial element of Egypt’s foreign currency earnings, alongside tourism and Suez Canal revenue.