Every month, remittance inflows rose by 25.7 percent in February 2026 to about $3.8 billion, compared with roughly $3 billion in February 2025.
The strong performance underscores the growing importance of remittances as a key pillar of Egypt’s foreign currency inflows, helping to cushion the economy amid ongoing external financing pressures.
The surge reflects both a recovery in regional labour markets and a sustained shift toward formal banking channels following reforms introduced by the CBE in March 2024.
These measures, which included a sharp currency devaluation and interest rate hikes, narrowed the gap between official and parallel exchange rates, encouraging expatriates to channel transfers through the banking system.
As a result, a larger share of remittances is now being recorded through official channels, improving the transparency and reliability of Egypt’s foreign currency inflows.
Remittances have emerged as the country’s second-largest source of foreign currency after exports, at times surpassing tourism and the Suez Canal revenues during the current fiscal year. The steady inflows have helped bolster foreign reserves and mitigate pressures from a widening balance-of-payments deficit, as Egypt continues to implement an economic reform programme aligned with the International Monetary Fund (IMF).
Regionally, demand for Egyptian labour has remained firm across key destinations, particularly in Gulf Cooperation Council countries, as well as Libya and parts of Europe. Sectors such as construction, services, and healthcare have continued to absorb Egyptian workers, supporting higher remittance volumes.
The latest figures indicate that Egypt’s labour-export model remains a resilient source of foreign exchange, with inflows during the first eight months of the fiscal year approaching the country’s recent annual highs.
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