{"id":672486,"date":"2025-09-25T00:00:00","date_gmt":"2025-09-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/25\/remittances-from-egyptians-abroad-hit-usd-3-8-bn-in-july\/"},"modified":"2025-09-25T00:00:00","modified_gmt":"2025-09-25T00:00:00","slug":"remittances-from-egyptians-abroad-hit-usd-3-8-bn-in-july","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/25\/remittances-from-egyptians-abroad-hit-usd-3-8-bn-in-july\/","title":{"rendered":"Remittances from Egyptians abroad hit USD 3.8 bn in July"},"content":{"rendered":"

Good morning, all.<\/strong> We have made it to the end of what has been a very busy week and we can\u2019t wait to slide into the last weekend of September. <\/p>\n

IN TODAY\u2019S ISSUE- <\/strong>Remittances rise again, hitting USD 3.8 bn in July, continuing a trend analysts think will persist, and the government wants to liberalize the natural gas market in a bid to bring more foreign investors into the sector. <\/p>\n

A HELPING HAND FOR INDUSTRIES- <\/strong>The Industry Ministry unveiled a package of incentives targeting sheet metal producers and we have word that the government is mulling ways it can further support fertilizer players. <\/p>\n

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PSA- <\/p>\n

WEATHER- <\/strong>It's another cool day here in Cairo today, with a high of 31\u00b0C and a low of 22\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little cooler in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 21\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> UAE\u2019s<\/strong> Modon is looking to tap local partners for the development of Ras El <\/strong>Hekma<\/strong>, the company\u2019s Egypt General Manager Shehab Elorabi said<\/a> on the sidelines of the Cityscape exhibition. The North Coast megacity is too large for any one developer to handle alone and will require a network of partners to execute projects at speed and scale, according to Elorabi. <\/p>\n

REMEMBER- <\/strong>ADQ tapped Modon Holding<\/a> to be the master developer on its landmark USD 35 bn Ras El Hekma project on the North Coast last October, with the firm also tasked with developing the first 50 mn sqm phase of the 170 mn sqm city. ADQ said last year that the remaining 120 mn sqm will be developed in partnership with leading developers from Egypt, the UAE, and global partners, under the supervision of ADQ subsidiary Ras El Hekma Urban Development Project Company and Modon Holding.<\/p>\n

DATA POINT- <\/p>\n

<\/a> Remittances <\/strong>rose 26.3% y-o-y to USD 3.8 bn in July<\/strong>, marking<\/a> 17 consecutive months of y-o-y remittance growth, according to a statement<\/a> from the Central Bank of Egypt. Over the first seven months of 2025, remittances are up 49.7% y-o-y to USD 23.2 bn. <\/p>\n

REMEMBER- <\/strong>Remittance inflows began returning to official channels after the float of the EGP back in March 2024, which effectively put an end to the parallel market that had pushed remittance flows to unofficial channels.<\/p>\n

Analysts see inflows<\/strong> holding strong:<\/strong> Ahly Pharos Head of Research Hany Genena told EnterpriseAM that if the current pace of monthly inflows continues, Egypt could record USD 40 bn in remittances this year \u2014 up from the \u201clow-30s\u201d average just a few years ago. He attributed the surge to the unified exchange rate, which encouraged transfers back into official channels, a larger Egyptian workforce abroad, and stronger inflows from neighboring markets such as Libya.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> #1- Willkommen in Deutschland, Herr Finanzminister Kouchouk. <\/strong>The Egyptian-German Business Forum kicks off today in Germany with Finance Minister Ahmed Kouchouk in attendance, according to a statement<\/a>. The two-day German-Arab Chamber of Industry and Commerce-hosted event spread between Munich and Frankfurt will bring together government officials, representatives from German companies, and investors to explore opportunities for strengthening bilateral relations. <\/p>\n

What\u2019s on the agenda?<\/strong> Kouchouk will present Egypt\u2019s latest tax incentives and fiscal policies designed to support production and exports, while also promoting priority investment opportunities for German companies. The forum will also highlight joint government efforts to cut trade costs, streamline procedures, and boost competitiveness.<\/p>\n

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#2- It\u2019s day two of the <\/strong>2025 Egyptian Entrepreneurial Sector Diagnostic Report<\/a><\/strong> launch <\/strong>summit. <\/strong>Organized by Entlaq in partnership with El Gouna \u2014 which is hosting the event \u2014 the three-day summit will bring together government officials, investors, development partners, and startup founders to discuss the findings of the report on the country\u2019s entrepreneurial community.<\/p>\n

What to expect from the report? <\/strong>The report \u201cmaps macro indicators, legal frameworks, access to finance and markets, institutional enablement, and regional dynamics \u2014 delivering actionable, evidence-based recommendations benchmarked against peer markets such as Morocco, Kenya, and India.\u201d <\/p>\n

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<\/a> #3- The country\u2019s largest real estate exhibition, <\/strong>Cityscape Egypt<\/a><\/strong>, is now well <\/strong>underway <\/strong>at the Egypt International Exhibition Center. The expo is expected to welcome 40k visitors over its four-day run and host more than 80 developers showcasing over 1k projects. The event will come to a close on Saturday.<\/p>\n

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THE BIG STORY ABROAD- <\/p>\n

International pages are leading with news of a deadly shooting at a US immigration office <\/strong>\u2014 a gunman opened fire at an ICE facility in Dallas, killing one and critically injuring two others before taking his own life. FBI investigators are pointing to anti-ICE messages at the scene as evidence of a politically motivated attack. President Donald Trump pledged in a post on Truth Social<\/a> an executive order to \u201cdismantle these domestic terrorism networks.\u201d (Financial Times<\/a> | Reuters<\/a> | New York Times<\/a> | The Guardian<\/a> | Associated Press<\/a> | Bloomberg<\/a>)<\/p>\n

LOOKING TO APPLE FOR A LIFELINE- <\/strong>Intel has held early talks with Apple about a potential investment as part of its comeback strategy, a week after Nvidia announced an agreement that will see it invest USD 5 bn in the chipmaker, Bloomberg<\/a> reports. Such a deal would be symbolically powerful: Apple abandoned Intel\u2019s processors in its Macs five years ago but has touted big plans for US manufacturing.<\/p>\n

ALSO WORTH NOTING THIS MORNING-<\/strong> Taiwan reels after deadly typhoon:<\/strong> At least 17 people were killed when a barrier lake burst in a Taiwan town, prompting residents to seek shelters and an inquiry into what went wrong with evacuation orders. (Reuters<\/a> | BBC<\/a> | New York Times<\/a> | The Guardian<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. We have made it to the end of what has been a very busy week and we can\u2019t wait to slide into the last weekend of September. IN TODAY\u2019S ISSUE- Remittances rise again, hitting USD 3.8 bn in July, continuing a trend analysts think will persist, and the government wants to liberalize […]<\/p>\n","protected":false},"author":1,"featured_media":672487,"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":[7204],"tags":[72,2396,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-672486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-remittances","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"b2d4be5b-d1c3-4b32-b57e-55fe961bda12","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/12\/747.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Remittances from Egyptians abroad hit USD 3.8 bn in July","related_issue":[672484],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.7feade16-c714-4262-940d-0d72a045f437.mp3"},"yoast_head":"\nRemittances from Egyptians abroad hit USD 3.8 bn in July - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/25\/remittances-from-egyptians-abroad-hit-usd-3-8-bn-in-july\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remittances from Egyptians abroad hit USD 3.8 bn in July\" \/>\n<meta property=\"og:description\" content=\"Good morning, all. 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Remittances to the country are expected to hit USD 26.4 bn this year, down slightly from USD 29 bn last year. Globally, remittance inflows to\u2026","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":574826,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/23\/remittances-rise-11-in-july\/","url_meta":{"origin":672486,"position":1},"title":"Remittances rise 11% in July","author":"enterpriseam admin","date":"23 September 2020","format":false,"excerpt":"Remittances from Egyptians working abroad rose 11% to USD 2.9 bn in July, up from USD 2.6 bn reported in July of 2019, according to state news agency MENA. Egyptians working abroad sent some USD 17 bn into the country during the first seven months of the year, up from\u2026","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":567814,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/08\/egypts-budget-deficit-down-remittances-up\/","url_meta":{"origin":672486,"position":2},"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":591835,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/remittances-rise-13-6-to-usd-6-7-bn-in-1q2019-2020\/","url_meta":{"origin":672486,"position":3},"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":564211,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/17\/remittances-spike-in-may\/","url_meta":{"origin":672486,"position":4},"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":554158,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/remittances-up-1-5-in-1q2021-2022\/","url_meta":{"origin":672486,"position":5},"title":"Remittances up 1.5% in 1Q2021-2022","author":"enterpriseam admin","date":"22 December 2021","format":false,"excerpt":"Remittances from Egyptians abroad were up 1.5% y-o-y to USD 8.1 bn in the first quarter of FY 2021-2022, the central bank announced in a statement (pdf). The quarterly figure rose despite September being a slow month, with remittances dipping 3% y-o-y to USD 2.6 bn. 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