**Remittances from Egyptians working abroad reach record levels in 2024**
Egypt’s economic reforms have had a significant impact on remittances from Egyptians working abroad. According to data from the Central Bank of Egypt, these transfers have recorded successive jumps, exceeding expectations.
In October 2024, remittances increased by 68.4% to reach approximately $2.9 billion compared to approximately $1.7 billion in October 2023. This impressive growth reflects the confidence of Egyptians abroad in the reform measures taken by their country.
In the period from July to October 2024, remittances increased by 80% to reach approximately $11.2 billion, compared to approximately $6.2 billion in the same period in 2023. This surprising growth shows the stability and confidence regained by Egyptian investors abroad.
In the first ten months of 2024, there was a 45.3% increase in remittances, reaching approximately $23.7 billion compared to approximately $16.3 billion the previous year. These figures reflect a positive economic dynamic that benefits the Egyptian economy as a whole.
Remittances from Egyptians working abroad play a crucial role in the country’s economy, contributing to financial stability and growth. They also demonstrate the solidarity and support of expatriates towards their home country.
In conclusion, the reforms implemented in Egypt have borne fruit, fostering a significant increase in remittances from Egyptians working abroad. This positive trend is expected to continue and further strengthen the Egyptian economy in the coming months.