{"id":666546,"date":"2025-06-10T00:00:00","date_gmt":"2025-06-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/10\/remittances-from-egyptians-abroad-continue-to-rise-in-march-reaching-usd-3-4-bn\/"},"modified":"2025-06-10T00:00:00","modified_gmt":"2025-06-10T00:00:00","slug":"remittances-from-egyptians-abroad-continue-to-rise-in-march-reaching-usd-3-4-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/10\/remittances-from-egyptians-abroad-continue-to-rise-in-march-reaching-usd-3-4-bn\/","title":{"rendered":"Remittances from Egyptians abroad continue to rise in March, reaching USD 3.4 bn"},"content":{"rendered":"

Remittances<\/strong> from Egyptians residing abroad continued their steady rise in March<\/strong>, increasing 63.7% y-o-y to around USD 3.4 bn, according to a statement (pdf)<\/a> from the Central Bank of Egypt. This marks the thirteenth consecutive month of y-o-y remittance growth.<\/p>\n

Remittances reached a record high in the first nine months of the current fiscal year<\/strong>, with Egyptians abroad sending in some USD 26.4 bn, up 82.7% y-o-y. In 3Q FY 2024-2025, remittances saw a y-o-y increase of 86.6%, reaching around USD 9.4 bn.<\/p>\n

\u201cMarch\u2019s figures were strong<\/strong>, and they imply a 13% m-o-m increase compared to February\u2019s<\/a> USD 3 bn,\u201d HC Securities\u2019 Nemat Choucri told EnterpriseAM.<\/p>\n

REMEMBER- <\/strong>Remittance inflows began to return to official channels after the float<\/a> of the EGP back in March 2024, which effectively put an end to the parallel market that had pushed remittance flows to unofficial channels. Remittances are expected to continue their upward trajectory throughout the year, with Morgan Stanley forecasting<\/a> USD 32 bn in inflows during the current fiscal year.<\/p>\n

This could also be the year remittance flows surpass their pre-FX crisis peak.<\/strong> Last fiscal year saw remittances hitting only USD 22.1 bn \u2014 as the parallel market pushed remittance flows to unofficial channels \u2014 down from a USD 31.4 bn peak in FY 2020-2021.<\/p>\n

Money sent from abroad is expected to have made up <\/strong>around 8% of the country\u2019s entire<\/a><\/strong>GDP in 2024<\/a><\/strong>, up from 5% in 2023 and 6.1% in 2022. In terms of current account inflows, remittances from Egyptian expats are expected to have accounted for 35% of inflows in 2024, up from the 25% recorded the year prior, but still a long way off from the 45% recorded in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

This marks the thirteenth consecutive month of y-o-y remittance growth<\/p>\n","protected":false},"author":1,"featured_media":666547,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,2234,2396],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-666546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-foreign-exchange","tag-remittances","wpautop","entry"],"acf":{"mongo_id":"b695cd30-d1e3-47a4-a131-bd0cefddb5e7","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2375.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Remittances from Egyptians abroad continue to rise in March, reaching USD 3.4 bn","related_issue":[666536],"teaser":"This marks the thirteenth consecutive month of y-o-y remittance growth","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.ab640ca1-c174-4069-9a62-898e30b07a4a.mp3"},"yoast_head":"\nRemittances from Egyptians abroad continue to rise in March, reaching USD 3.4 bn - 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The quarterly figure rose despite September being a slow month, with remittances dipping 3% y-o-y to USD 2.6 bn. In August, remittances grew\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/450.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567814,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/08\/egypts-budget-deficit-down-remittances-up\/","url_meta":{"origin":666546,"position":1},"title":"Egypt\u2019s budget deficit down, remittances up","author":"enterpriseam admin","date":"8 December 2020","format":false,"excerpt":"Egypt\u2019s budget deficit shrank to EGP 134.9 bn, equivalent to 2.1% of GDP in 1Q2020-2021 compared to 2.3% during the same period last year, according to a Finance Ministry report (pdf). The report attributes the narrowing deficit to an 18.4% y-o-y uptick in state revenues to EGP 204.7 bn, which\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570882,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/egypts-remittances-rise-33-y-o-y-in-january-and-february\/","url_meta":{"origin":666546,"position":2},"title":"Egypt\u2019s remittances rise 33% y-o-y in January and February","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"Remittances from Egyptians abroad for January and February rose by a third y-o-y to USD 5.2 bn, up from USD 3.9 bn in the same period last year, according to official data (pdf).","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564211,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/17\/remittances-spike-in-may\/","url_meta":{"origin":666546,"position":3},"title":"Remittances spike in May","author":"enterpriseam admin","date":"17 August 2021","format":false,"excerpt":"Remittance inflows from Egyptians working abroad rose almost 50% in May to USD 2.6 bn, up from USD 1.8 bn in May 2020, according to central bank figures (pdf) released this morning. Expats sent some USD 28.5 bn back home during the first 11 months of the fiscal year (July\u2026","rel":"","context":"In "SPEED ROUND: ECONOMY"","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/454.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591835,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/remittances-rise-13-6-to-usd-6-7-bn-in-1q2019-2020\/","url_meta":{"origin":666546,"position":4},"title":"Remittances rise 13.6% to USD 6.7 bn in 1Q2019-2020","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"Remittances rise 13.6% in 1Q2019-2020: Remittances from Egyptians living abroad rose to USD 6.7 bn in 1Q2019-2020, up 13.6% y-o-y from USD 5.9 bn in the same period last year, according to Central Bank of Egypt figures (pdf). Remittances rose 33.2% to USD 2.3 bn in the month of September.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":667350,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/24\/remittances-rise-39-0-y-o-y-in-april-to-usd-3-0-bn\/","url_meta":{"origin":666546,"position":5},"title":"Remittances rise 39.0% y-o-y in April to USD 3.0 bn","author":"enterpriseam admin","date":"24 June 2025","format":false,"excerpt":"This marks 14 consecutive months of y-o-y remittance growth","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1369.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/666546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=666546"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/666546\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/666536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/666547"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=666546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=666546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=666546"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=666546"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=666546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}