Remittances from Egyptians working abroad rise to $47.3 billion

Cairo - Ahmed Saber: The Media Center of the Council of Ministers published a series of infographics via its social media platforms, highlighting the notable progress in remittances from Egyptians working abroad, which reached record levels during the 2025/2026 fiscal year, reflecting the strength of foreign currency inflows to the Egyptian economy.

This record performance of remittances from Egyptians abroad serves as a clear indicator of confidence in the national economy and the positive developments it has witnessed, which have contributed to boosting foreign currency inflows. This, in turn, enhances the state’s capacity to support its international reserves and provide more elements of financial stability, while also underscoring the growing role of remittances in supporting the economy.

The infographics revealed that remittances from Egyptians working abroad reached $47.3 billion during the 2025/2026 fiscal year, surpassing the forecasts of several international institutions. The International Monetary Fund (IMF) had projected $39.3 billion, while Morgan Stanley estimated the figure at approximately $46 billion.

The infographics also outlined the striking growth in remittances from Egyptians abroad, which rose to $47.3 billion in 2025/2026, compared to approximately $36.5 billion in 2024/2025 and $21.9 billion in 2023/2024, reflecting the continued upward trend in remittances in recent periods.

This increase in remittances from Egyptians abroad has contributed to strengthening net international reserves, which rose to $55.1 billion in June 2026, and continued to climb to reach $57.2 billion by the end of August 2026, compared to approximately $48.7 billion in June 2025 and $46.4 billion in June 2024.

In a related context, the infographics presented the views of several international institutions regarding the strength of remittances from Egyptians working abroad. In August 2026, the IMF predicted that financial remittances would remain strong following the recent record inflows, noting that these record remittance flows, alongside robust tourism revenues and the gradual recovery of Suez Canal earnings, have helped alleviate pressure on the current account.

Furthermore, Standard & Poor’s noted in April 2026 that Egypt enjoys stronger external safety margins during the regional conflict than it did during previous crises, supported by reforms that contributed to strong growth in tourism revenues and remittances from Egyptians abroad.

The International Organization for Migration (IOM) stated in May 2026 that Egypt ranked first among Arab and African economies in receiving remittances from workers abroad, and placed seventh globally in 2024.

On a separate note, Minister of Labor Hassan Radad met with representatives of companies engaged in placing Egyptian workers abroad at the Ministry’s headquarters in the New Capital. He announced a six-month grace period for these companies to regularize their status and complete legal procedures and requirements, in implementation of a decision by the Prime Minister on this matter.

The Minister of Labor emphasized that this grace period aims to provide a serious opportunity for companies to regularize their operations, thereby contributing to the regulation of the labor placement market, supporting serious and compliant companies, and enhancing sector efficiency. He added that the Ministry will continue to combat any unregulated practices and protect youth from non-compliant entities and unlicensed companies.

In a move aimed at expanding external employment opportunities, the Minister of Labor agreed with company representatives on preparations to launch, for the first time, a specialized employment forum for overseas job opportunities. The forum will showcase available opportunities for Egyptian youth in various countries and external markets, through coordination between the Ministry and the companies. Details of the forum and the opportunities will be announced through the Ministry’s official channels.