Egyptian expat remittances up 42.8%
- Last updated: December 21, 2025 | 19:02 ..
Remittance inflows from Egyptians working abroad rose 42.8 per cent year on year in the first ten months of 2025, reaching $33.9 billion, up from $23.7 billion in the same period last year, the Central Bank of Egypt (CBE) said on Sunday, Ahram Online reported.
Monthly inflows also increased sharply, climbing 26.2 per cent in October to $3.7 billion, compared with $2.9 billion in October 2024, according to the bank.
In November, Egyptian Prime Minister Mostafa Madbouly said the Central Bank of Egypt (CBE)’s announcement that the country’s foreign currency reserves have surpassed $50 billion assures international institutions as well as all investors of Egypt’s economic stability and reform progress.
Speaking at a press conference following the Cabinet’s weekly meeting , Madbouly explained that Egypt’s foreign reserves have been rising for 38 consecutive months, driven by real economic sectors such as tourism, manufacturing, exports, ICT, and remittances from Egyptians abroad, rather than hot money (short-term capital flows).
He noted that Suez Canal revenues have started to grow again, and expressed optimism that regional stability would further boost Egypt’s foreign currency inflows.
The prime minister emphasised the government’s commitment to industrial localisation, noting that the foundation stone of a car factory was laid with $150 million investments to produce up to 100,000 vehicles annually.
Separately, Egypt’s economy accelerated sharply in the first quarter of FY 2025/2026, with GDP growth reaching approximately 5.3%, the highest quarterly performance recorded in more than three years, according to the Ministry of Planning, Economic Development, and International Cooperation.
The ministry attributed the improvement to stronger activity across productive sectors and the continued rollout of economic and structural reforms.
Planning Minister Rania Al-Mashat said Egypt was targeting economic growth of around 5% for the fiscal year to the end of June 2026, up from a previous target of 4.5%.
WAM