Egyptians Abroad Transfer USD 20.8 Billion in First 9 Months of 2024
This reflects a 42.6% rise compared to USD 14.6 billion during the same period in 2023, according to the Central Bank of Egypt.
Egyptians working abroad have transferred a total of USD 20.8 billion from January 2024 to September 2024 - a 42.6% rise compared to USD 14.6 billion during the same period in 2023, according to the Central Bank of Egypt.
The surge was particularly notable in September 2024, when remittances doubled to USD 2.7 billion compared to USD 1.3 billion in September 2023. During the first quarter of the 2024/2025 fiscal year (July-September 2024), transfers soared by 84.4%, reaching USD 8.3 billion, up from USD 4.5 billion in the previous year.
This growth follows key reforms implemented in March 2024, including measures to liberalize the exchange rate.
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