US Dollar bills. Stock Image.
According to CBE data, remittances from Egyptians working abroad rose by 72.3 percent in the first four months of 2025, reaching about $12.4 billion, compared to approximately $7.2 billion during the same period in 2024.
Moreover, remittances jumped by 77.1 percent in the first 10 months of the current FY2024/2025 (July 2024 to April 2025), reaching about $29.4 billion, compared to approximately $16.6 billion during the same period in FY2023/2024.
Remittances from Egyptians abroad are one of Egypt's most important sources of foreign currency, alongside tourism, the Suez Canal, and export revenues.
According to CBE data, Egypt’s net international reserves (NIRs) jumped to a record $48.143 billion in April.
It is worth noting that the International Monetary Fund (IMF) is still negotiating with the Egyptian authorities regarding completing the fifth review.
In May, an IMF team arrived in Cairo for the final discussion of the fifth review of the country's $8 billion EFF loan programme.
Completing this review paves the way for Egypt to receive a tranche of $1.2 billion.
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