Egyptian remittances hit $47.3B
The Egyptian government confirmed that the World Bank's growth forecast for the economy during the 2025/2026 fiscal year has increased from 4.3% to 5.1%. This improvement is attributed to a strong economic performance and resilience in managing exchange rate fluctuations and dollar inflows. Initial indicators show that Egypt's economy has achieved higher-than-expected growth, supported by an increase in net foreign assets to around $28 billion and the Central Bank's reserves reaching $57.2 billion. Additionally, sectors such as tourism, remittances from Egyptians abroad—which totaled $47.3 billion—and foreign direct investment have all contributed to enhancing the economic performance during the fiscal year.
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