Remittances from Egyptians working abroad recorded unprecedented inflows during the first 10 months of 2025, reaching approximately $33.9bn, compared with around $23.7bn in the same period of the previous year, the Central Bank of Egypt (CBE) announced on Sunday.
On a monthly basis, remittances rose by 26.2% year-on-year in October, reaching about $3.7bn, up from nearly $2.9bn in October 2024, according to the CBE.
Prime Minister Mostafa Madbouly has repeatedly affirmed the state’s appreciation of the vital national role played by Egyptians abroad, noting that expatriates have demonstrated a strong sense of belonging and patriotism through the continued rise in remittance inflows. He stressed that remittances represent one of Egypt’s most important sources of foreign currency, particularly amid the economic pressures resulting from regional and global crises.
Madbouly attributed this performance to monetary and economic reform measures undertaken by the Central Bank in coordination with the government, including the adoption of a flexible exchange-rate regime and the government’s continued commitment to its broader economic reform programme.
For its part, the Cabinet’s Media Centre said in a report that the record growth in remittances reflects the prudent monetary policy pursued by the CBE. This approach has helped stabilise the exchange rate, strengthen confidence in the economy, and bolster net international reserves, enhancing the state’s capacity to confront external shocks.
The Media Centre also highlighted the long-term upward trajectory of remittances, noting that inflows have more than doubled over the past decade, reaching $36.5bn in fiscal year 2024/2025, compared with $17.1bn in 2015. It added that the International Monetary Fund has confirmed that the recent surge in remittances reflects growing confidence in the economic reforms implemented since March 2024.
Meanwhile, prominent banking expert Mohamed Abdel Aal described remittances from Egyptians abroad as “Egypt’s inexhaustible mine,” noting that they significantly exceed the value of gold holdings within the country’s foreign exchange reserves.
Abdel Aal said that while remittances primarily support Egyptian families, they also constitute a strategic economic lifeline whose value surpasses that of traditional reserve assets. He pointed out that gold holdings in the CBE’s reserves amount to roughly $16.5bn, whereas annual remittance inflows currently exceed $34bn.
He explained that gold is a fixed reserve asset whose value fluctuates with global prices, whereas remittances represent a renewable, recurring flow that is replenished annually. Unlike foreign direct investment or external borrowing, these inflows are generated by Egyptian human capital abroad and do not create future financial obligations.
According to Abdel Aal, remittances are driven by social and economic motivations, making them more resilient and flexible than other sources of foreign currency that are often vulnerable to geopolitical tensions or global market volatility. He added that while gold serves as a reserve asset in times of crisis, it is not readily liquid for daily economic needs. Remittances, by contrast, enter the economy as immediately usable foreign currency, supporting imports, meeting external obligations, and reinforcing reserves.
Abdel Aal noted that remittances declined in 2022/2023 due to the expansion of the parallel currency market. However, following the liberalisation of the exchange rate in March 2024 and subsequent reforms, inflows surged and returned to official channels.
He said that remittances rose by 84.4% in the first quarter of 2025 compared with the same period a year earlier, reaching $30.2bn in the first months of the year alone. Drivers of this growth include exchange-rate unification, government incentives such as the duty-free car import initiative, high-yield savings instruments, and social factors such as expatriates’ support for their families and their attachment to Egypt.
To sustain these inflows, Abdel Aal called for deeper integration of expatriates into the domestic economy through dollar-denominated investment funds, entrepreneurship programmes, health insurance and pension schemes, as well as targeted tax and customs incentives.
He concluded that remittances from Egyptians abroad are not merely balance-of-payments figures, but a strategic national asset whose annual value and reliability surpass those of even the most precious metals held in the country’s vaults.
