The Media Center of the Egyptian Cabinet confirmed that remittances from Egyptians working abroad witnessed a record jump, strengthening the stability of international reserves thanks to several prudent monetary policies of the Central Bank of Egypt. The remittances reached about $36.5 billion, boosting net international reserves to $49.3 billion in August 2025, doubling their levels over the past 10 years.

The Media Center stated that the record increase in remittances from Egyptians abroad is attributed to the prudent monetary policy of the Central Bank of Egypt, which helped stabilize the exchange rate and enhance confidence in the economy, positively reflecting on net international reserves and the country’s ability to face external challenges.

Remittances Development

The Media Center reviewed the development of Egyptians’ remittances abroad, explaining that they more than doubled over 10 years, reaching $36.5 billion in 2024-2025 compared to about $17.1 billion in 2015-2016. Remittances recorded about $3.8 billion in July 2025, the highest monthly level ever recorded.

The Center pointed out that remittances were $21.9 billion in 2023-2024, $22.1 billion in 2022-2023, $31.9 billion in 2021-2022, and about $31.4 billion in 2020-2021.

It added that this surge was reflected in the positions and assessments of the International Monetary Fund (IMF) and the Institute of International Finance (IIF) towards Egypt, with the IMF confirming that the rise in Egyptians’ remittances abroad shows confidence in the economic reforms implemented since March 2024.

International Reserves

This record rise in Egyptians’ remittances abroad reflected on net international reserves, which reached unprecedented levels, nearly doubling over 10 years, recording $48.7 billion in June 2025, then continuing to rise to $49.3 billion in August the same year, after having recorded $17.5 billion in June 2016. Net international reserves were $46.4 billion in June 2024, about $34.8 billion in June 2023, about $33.4 billion in June 2022, and $40.6 billion in June 2021.

The Institute of International Finance noted that record tourism revenues, strong recovery in Egyptians’ remittances abroad, and remarkable export growth contributed to supporting foreign currency reserves, enhancing the economy’s ability to provide sufficient foreign currency resources to face external shocks.