CAIRO, Egypt / RankWire.AI / – Remittances from Egyptians working abroad rose 27.2% in the first eight months of 2026 to a record $33.9 billion. The Central Bank of Egypt reported the figures on Tuesday, October 13. Inflows stood at $26.6 billion during the same period of 2025. The increase amounted to about $7.3 billion year on year. The latest data cover January through August and confirm that transfers from Egyptian expatriates kept rising through 2026, adding to the country’s foreign currency inflows.
August remittances grew 21.7% year on year to around $4.2 billion. Inflows totaled approximately $3.5 billion in August 2025. The monthly figure fell by about $300 million from July 2026, when transfers reached $4.5 billion. Even so, August added roughly $4.2 billion to the cumulative total. Remittances had reached $29.7 billion in the first seven months of 2026, so the eighth month lifted the running total by 14.1%.
The figures extend an upward trend that has continued for more than two years. The central bank introduced exchange-rate reforms in March 2024, moving toward a more flexible exchange-rate regime and tightening monetary policy. Transfers through official channels have grown steadily since then. The government has also encouraged Egyptians abroad to send money through the formal banking system rather than the parallel market. Officials have expanded the financial services available to Egyptians living overseas.
Remittances strengthen Egypt’s external accounts
Remittances rank among Egypt’s main sources of foreign currency. The inflows support foreign-currency liquidity in the banking system and ease pressure on the country’s external accounts. In fiscal year 2025/2026, which ended in June, remittances rose 29.6% to $47.3 billion. That compared with $36.5 billion a year earlier. Recovering tourism revenues and Suez Canal receipts also helped contain the increase in Egypt’s current account deficit during the period.
Strong remittance flows have coincided with gains in Egypt’s foreign reserves. Net international reserves rose to a record $57.2 billion at the end of August 2026, according to central bank data. The transfers also form an important part of Egypt’s economic reform program with the International Monetary Fund. That program is set to conclude in December. Higher inflows give policymakers additional foreign currency as the country manages import needs and external obligations.
IMF projects faster growth for Egypt in 2026
The IMF’s latest World Economic Outlook projects Egypt’s economy to grow 5.1% in 2026. That would mark an acceleration from 4.4% growth in 2025. The fund expects growth to slow to 4.7% in 2027. It also projects the current account deficit to widen from 4.2% of gross domestic product in 2025 to 4.4% in 2026. The deficit is forecast to reach 4.9% of GDP in 2027.
Calendar-year remittances reached a record $41.5 billion in 2025, up 40.5% from the previous year. With $33.9 billion received by the end of August, 2026 inflows have already reached about 82% of that total. The central bank’s monthly data will show whether the pace continues through the final four months. Officials continue to promote formal transfer channels for Egyptians abroad. Remittances remain a central pillar of Egypt’s foreign currency earnings alongside tourism and Suez Canal revenue.