Remittances from Egyptians working abroad have seen successive leaps since the implementation of the reform measures in March 2024.
In September 2024 alone, remittances doubled to reach approximately US$2.7 billion, compared to around $1.3 billion in September 2023.
Remittances during the first quarter of the fiscal year 2024/2025 (July/September 2024) increased by 84.4 percent to reach approximately $8.3 billion, compared to around $4.5 billion.
Consequently, the first nine months of the current year 2024 (January/September 2024) witnessed an increase of 42.6 percent to reach approximately $20.8 billion, compared to around $14.6 billion.
The Central Bank of Egypt announced that remittances from Egyptians working abroad increased for the sixth consecutive month in August 2024, reaching $2.6 billion, representing a growth of 65.5 percent compared to approximately $1.6 billion in August 2023.
The Central Bank added that remittances from Egyptians working abroad during July/August 2024 increased by 76.2 percent to reach $5.6 billion, compared to around $3.2 billion during the same period a year ago.
Remittances from Egyptians working abroad during the first eight months of the current year (January/August 2024) increased by 36.4 percent to reach approximately $18.1 billion, compared to around $13.3 billion during the same period in 2023.
