The Central Bank of Egypt announced that remittances from Egyptians working abroad increased in May, reaching around $3.9 billion, compared to nearly $3.4 billion in May 2025, marking a growth rate of 13.5%.

In a statement issued on Thursday, the CBE said remittances continued their upward trend, rising by 31.2% during the July–May period of fiscal year 2025/2026 to reach around $43.1 billion, compared to nearly $32.8 billion during the same period of fiscal year 2024/2025.

Remittances from Egyptians abroad remain one of the key pillars supporting the Central Bank of Egypt’s foreign currency reserves.

Their importance goes beyond regular financial inflows. These transfers act as a financial safety net that directly supports foreign exchange market stability, helps meet the country’s financing needs for imports of strategic goods and raw materials, and plays a critical role in meeting international obligations while reducing the current account deficit.