The increase covers July 2025 to April 2026, compared with $29.4 billion in the previous fiscal year.
This is an increase from the $34.9 billion worth of remittances recorded during the first nine months of FY 2025/26, as well as higher than the $29.4 billion during the first eight months of FY 2025/26 and the $25.6 billion during the first seven months of the same year.
While in April 2026, remittances went up to around $4.3 billion, this is a 44 percent increase from $3.3 billion recorded in April 2025.
Remittances act as a shock absorber to Egypt’s economy amid ongoing external financing pressures and economic spillover from regional conflicts, and help reduce pressures from the balance of payments deficit, which widened during the first half of FY 2025/26, yielding an overall deficit of $2.1 billion.
Over the past two years, the rise of remittances has aligned with Egypt’s strategy and efforts to encourage expats to transport more of their money through the country’s official channels and formal banking systems.
After exports and alongside tourism revenues and Suez Canal earnings, remittances are also relied upon to increase foreign currency inflows, which also helps stabilize the local currency exchange rates.
The Egyptian Pound has been stabilizing across this month, strengthening against the US dollar at Sunday's close of business, and traded at EGP 51.18 to the dollar.
It's worth noting that Egypt’s net international reserves (NIRs) increased to $53.13 billion at the end of May 2026, up from $53 billion at the end of April 2026 and keeping an upward trend over the past few months.
This is part of Egypt’s commitments to its economic reform programme with the International Monetary Fund (IMF), coming amid the anticipated conclusion of the IMF’s seventh review of Egypt’s Extended Fund Facility (EFF) programme and the second review under the Resilience and Sustainability Facility (RSF).
The reviews will potentially unlock around $1.6 billion in new financing for Egypt.
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