Egyptian expat remittances surge to $29.7 billion over 7 months

The Central Bank announced on Monday that remittances from Egyptians working abroad increased by 28.1 percent during the first seven months of 2026, recording approximately $29.7 billion, compared to around 23.2 billion dollars during the same period last year.

The bank explained that remittances from Egyptians working abroad continued their upward trajectory during last July, registering a growth of 20 percent on an annual basis to reach about 4.5 billion dollars, compared to around 3.8 billion dollars during the same month of 2025.

Banking expert Sahar al-Damaty said that the continuous rise in remittances from Egyptians working abroad reflects a clear improvement in foreign currency inflows into the banking system.

She noted that remittances reaching approximately $29.7 billion during the first seven months of 2026, compared to $23.2 billion during the same period last year, represents an increase of about $6.5 billion over the comparison period.

Al-Damaty told Al-Masry Al-Youm that the remittances of about $4.5 billion during July 2026—a 20 percent year-on-year increase—confirms the continuation of an upward trend, especially given the improved confidence of Egyptians abroad in official channels and the banking system’s enhanced ability to provide foreign currency and meet client needs.