PM: Egypt Records Highest Monthly Dollar Inflows in July

Egypt achieved its highest-ever monthly US dollar inflow in July, with total dollar resources reaching USD 8.5 billion, excluding volatile “hot money”, according to Prime Minister Mostafa Madbouly.

Madbouly attributed this to a surge in remittances from Egyptians abroad and improved confidence in the domestic economy. The record inflows drew from multiple state sectors and included over USD 3.6 billion in remittances alone.

“This figure reflects the confidence of Egyptians abroad in the stability and strength of the Egyptian economy,” said Madbouly.