Remittances from Egyptians residing abroad have reached a record-breaking $29.4 billion over a ten-month period, underscoring their critical role amidst significant economic pressures in Egypt.
According to a statement from the Central Bank of Egypt (CBE), remittances from July 2024 to April 2025 totaled an unprecedented $29.4 billion. This figure represents a substantial 77.1 percent increase compared to the $16.6 billion recorded during the corresponding period in the previous year.
This historic surge in remittances is indicative of an elevated need for family support in the face of ongoing local economic challenges.
Breaking down the figures, April 2025 alone saw remittances jump by 39 percent, reaching $3 billion, up from $2.2 billion in February. Cumulatively, between January and April 2025, the increase is estimated at 72.3 percent, totaling $12.4 billion. These significant foreign currency inflows represent a vital contribution to the Egyptian economy.
SL/ac/Sf/fss/abj/APA