• 2025/02/25

51.3% growth in Egyptian overseas remittances

Following the March 2024 economic reforms, remittances from Egyptians working abroad surged. December 2024 saw a doubling to $3.2 billion (from $1.6 billion in December 2023), a record high for that month. This also reflects a 24.5% increase from November 2024 ($2.6 billion).

For the first half of the 2024/2025 fiscal year (July-December 2024), remittances climbed 80.7% to $17.1 billion (from $9.4 billion in July-December 2023).

Overall, 2024 remittances rose by 51.3% to $29.6 billion, compared to $19.5 billion in 2023.

• Remittances
• economic reforms
• surge
• CBE
• Central Bank of Egypt