Egypt Records Historic $8.5 Billion in Dollar Revenues in July, Says PM

Egypt achieved its highest-ever monthly dollar revenue in July, reaching $8.5 billion from local resources, Prime Minister Mostafa Madbouly announced on Wednesday during the government’s weekly press conference.

Madbouly clarified that the record figure was generated independently of “hot money” inflows, stressing that remittances from Egyptians abroad were a key contributor. He revealed that remittances surged to $3.6 billion in July alone, describing the increase as a reflection of confidence in Egypt’s economic stability and currency strength.

“The figures confirm the reassurance and trust of Egyptians in the resilience of their economy, unlike previous periods when the exchange rate posed major challenges,” the prime minister said.

According to Madbouly, the July total encompassed revenues from exports, industry, and other state-provided services, in addition to remittances. The result, he noted, marks the highest dollar inflow Egypt has ever recorded in a single month.

The prime minister also highlighted broader signs of economic improvement, stating that Egypt’s foreign currency reserves currently stand at $49 billion. He added that the annual inflation rate has been declining and that the trade deficit shrank by 25 percent in the first five months of 2025, narrowing to \$11 billion. Crucially, he said, the improvement in the trade balance was driven not by reduced imports but by higher Egyptian exports.

“These results underscore the significant progress the Egyptian economy is making,” Madbouly said.