Egypt's Remittances Experience Significant Surge Amid Economic Recovery
Fri, 24 Oct 2025 | 06:56 AM
In an impressive demonstration of resilience, remittances from Egyptians living abroad soared by an astonishing 47.2% in the first eight months of 2025, reaching a total of .6 billion. This figure marks a noteworthy increase over the .1 billion recorded during the same period in 2024, as reported by Africazine, citing data from the Central Bank of Egypt (CBE).
This dramatic rise in remittances is indicative of the renewed confidence in Egypt’s financial system. It highlights the effectiveness of ongoing governmental and central bank efforts aimed at stabilizing the exchange rate and fostering a healthier financial environment. Such enhancements in the economic landscape are crucial as they foster greater foreign currency inflows, essential for bolstering national reserves.
Notably, the month of August 2025 witnessed remittances reaching .5 billion, reflecting a 32.6% month-on-month increase compared to .6 billion a year earlier. This suggests a sustained recovery trajectory following a challenging period characterized by global inflation and currency fluctuations which had impeded expatriates’ ability to send money back home.
In a related positive development, Egypt’s net international reserves hit a record high of .53 billion by the end of September 2025, marking the ninth month of continuous growth—an upsurge of 2.4 million from August’s .25 billion. This steady increase reinforces Egypt’s external financial position while the nation continues to attract foreign investments and balance its financial accounts effectively.
The growing stream of remittances aligns with the Egyptian government’s strategic approaches to mitigating inflationary pressures and its commitment to expanding digital banking services. The recent launch of the “Haweya” platform by the Central Bank exemplifies these advancements and opens new avenues for financial transactions.
Remittances have long been a significant source of foreign currency for Egypt, ranking alongside revenues from the Suez Canal, tourism, and natural gas exports. These channels play a pivotal role in maintaining currency stability and fulfilling external obligations, forming the backbone of Egypt’s economy.
With a core inflation rate of 11.3% as of September, the proactive measures taken by the Egyptian authorities to improve financial conditions continue to show promise. The dramatic increase in remittances serves as a testament to the strength and dynamism of the Egyptian economy, paving the way for a brighter financial future.
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