The Central Bank of Egypt announced that remittances from Egyptians working abroad reached unprecedented levels of about $33.9 billion in the first 10 months of 2025, compared to around $23.7 billion in the same period last year. On a monthly basis, remittances rose 26.2% year-on-year in October to approximately $3.7 billion.
Prime Minister Mostafa Madbouly has expressed the state's appreciation for the vital national role of Egyptians abroad, noting that remittances serve as one of Egypt's key sources of foreign currency, especially amid economic pressures from regional and global crises. He credited this performance to monetary and economic reform measures by the Central Bank in coordination with the government, including a flexible exchange-rate regime and the broader economic reform program.
The Cabinet's Media Centre stated that the record growth in remittances reflects the Central Bank's prudent monetary policy, which has stabilized the exchange rate, built economic confidence, and strengthened net international reserves, thereby enhancing the state's ability to withstand external shocks. It pointed to the long-term upward trend, with inflows more than doubling over the past decade to $36.5 billion in fiscal year 2024/2025 from $17.1 billion in 2015. The International Monetary Fund has confirmed that the recent surge indicates growing confidence in reforms implemented since March 2024.
Prominent banking expert Mohamed Abdel Aal called remittances "Egypt's inexhaustible mine," highlighting that they surpass the value of gold holdings in the country's foreign reserves, at roughly $16.5 billion for gold versus over $34 billion in annual remittances. He explained that gold is a fixed asset fluctuating with global prices, while remittances provide a renewable annual flow from Egyptian human capital abroad, without creating future debts. Inflows declined in 2022/2023 due to the parallel currency market's expansion but surged 84.4% in the first quarter of 2025 year-on-year, reaching $30.2 billion in the early months. Abdel Aal urged deeper integration of expatriates through dollar-denominated investment funds, entrepreneurship programs, health insurance, pension schemes, and targeted tax and customs incentives.
