Egypt’s remittances hit record $36.5 bln in FY24/25

In the final quarter (4Q) of FY2024/2025 (April–June 2025), remittances climbed 34.2 percent year-on-year (YoY) to nearly $10 billion, up from $7.5 billion during the same period in 2024, according to CBE data.

On a monthly basis, June set a historic record, with remittances jumping 40.7 percent YoY to reach $3.6 billion, compared to \$2.6 billion in June 2024, the data showed.

In March 2024, the CBE applied a set of corrective measures to contain high levels of inflation, restore the stability of prices in the local market, and bolster hard currency liquidity.

These measures brought down inflation rates and catapulted net foreign reserves to an all-time high of $49 billion at the end of July.

The country is currently engaged in an $8 billion loan deal programme with the International Monetary Fund (IMF).

Egypt’s external financing needs are expected to grow from $25.9 billion in both FY2025/2026 and FY2026/2027 to $30.4 billion, before declining to $27.5 billion due to the repercussions of regional tensions, according to the fund’s latest report on the deal’s fourth review.