CAIRO, Egypt / RankWire.AI / – Remittances sent home by Egyptians working abroad experienced a 27.2% rise during the first eight months of 2026, reaching a historic $33.9 billion. The Central Bank of Egypt announced these figures on Tuesday, October 13. In the same period of 2025, inflows totaled $26.6 billion. The year-on-year increase was approximately $7.3 billion. Covering January through August, the latest data confirms that transfers from Egyptian expatriates continued to grow throughout 2026, bolstering the country’s foreign currency reserves.
Remittances in August alone increased by 21.7% compared to the previous year, reaching around $4.2 billion. During August 2025, inflows were about $3.5 billion. The monthly total in August 2026 was roughly $300 million less than July, which saw transfers of $4.5 billion. Nevertheless, August contributed approximately $4.2 billion to the overall total. By the end of July 2026, remittances had reached $29.7 billion, so the August figure pushed the total for the first eight months up by 14.1%.
This data continues a positive trend that has persisted for over two years. The Central Bank introduced exchange-rate reforms in March 2024, shifting towards a more flexible exchange-rate system and tightening monetary policy. Since then, transfers through official channels have steadily increased. The government has also encouraged Egyptians abroad to send money via formal banking systems instead of the parallel market. Additionally, officials have expanded the range of financial services available to Egyptians living overseas.
Remittances Bolster Egypt’s External Financial Position
Remittances are among Egypt’s primary sources of foreign currency. These inflows support liquidity in the banking system and help ease pressure on the country’s external accounts. During the fiscal year 2025/2026, which ended in June, remittances increased by 29.6%, reaching $47.3 billion. This compares to $36.5 billion in the previous year. The revival of tourism revenues and Suez Canal receipts also contributed to limiting the growth of Egypt’s current account deficit during this period.
Strong remittance flows have coincided with gains in Egypt’s foreign reserves. According to central bank data, net international reserves climbed to a record $57.2 billion at the end of August 2026. These transfers also play a vital role in 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 imports and external obligations effectively.
IMF Forecasts Accelerated Growth for Egypt in 2026
The IMF’s latest World Economic Outlook anticipates Egypt’s economy will expand by 5.1% in 2026, an increase from 4.4% growth in 2025. The organization expects growth to slow slightly to 4.7% in 2027. It also projects the current account deficit will expand from 4.2% of gross domestic product in 2025 to 4.4% in 2026. In 2027, the deficit is expected to reach 4.9% of GDP.
Remittances for the full year 2025 reached a record $41.5 billion, representing a 40.5% increase from the previous year. As of August 2026, inflows have already hit about 82% of that total, with $33.9 billion received by then. The central bank’s monthly data will reveal if this pace continues through the last four months. The government continues to promote formal transfer channels for Egyptians abroad. Remittances remain a key component of Egypt’s foreign currency earnings, alongside tourism and Suez Canal revenue.