Egypt’s foreign exchange reserves exceed $55 billion for the first time in its history
Cairo, July 15 / WAM / Egypt’s foreign exchange reserves exceeded the barrier of 55 billion dollars for the first time in the country’s history, recording 55.072 billion dollars at the end of last June.
This historic level was announced by Dr. Mostafa Madbouly, Egyptian Prime Minister, based on data from the Central Bank, during the government’s weekly press conference held today.
Madbouly said that the cash reserves witnessed a significant increase by about two billion dollars within one month, which reflects the continued improvement in Egyptian economic indicators, and confirms the state’s ability to enhance its foreign reserves and support its financial stability.
The Egyptian Prime Minister affirmed the government’s continued implementation of the economic reform program, and the diligent work to enhance the investment climate and increase the state’s foreign exchange resources, ensuring support for the comprehensive development process and maintaining economic stability in the country.
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