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A steady flow of inflows is one of the main highlights of the economy post float -Capital Economics
A loose exchange rate regime and tight fiscal policy are steps in the right direction
Egypt’s net foreign assets jump 65.8% to USD 8.7 bn in January
This follows two consecutive months of decline in Egypt’s net foreign assets
Remittances from Egyptians abroad surge 51.3% in 2024
Inflows from Egyptians abroad inched up as they started sending more of their remittances through official channels following the EGP…
Moody’s affirms Egypt’s rating, outlook
The agency sees subsidy reforms and tax reforms helping the government reach a primarily surplus of 3.5% of GDP this…
Gov’t to issue bookkeeping scheme to account for FX price difference prior to the EGP float
The accounting scheme will augment FX costs booked by companies throughout 1Q 2024 by a rate of up to 60%
Egypt’s net foreign assets dropped 12% to USD 5.2 bn in December
The decline was driven by a widening deficit in the net foreign assets of commercial banks
Remittances rise 65.4% y-o-y to USD 2.6 bn in November
Remittances are also up up 47.1% y-o-y in the first 11 months of 2024 to USD 26.3 bn
Net foreign assets dropped 35% to USD 6.0 bn in November
Driven by a sharp decline in foreign assets in commercial bank
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