The Central Bank revealed that Egypt's net foreign reserves increased to $ 45.51 billion in February from $ 45.457 billion in January.
According to the monthly statistical bulletin issued by the Central Bank of Egypt on February 2020, net international reserves increased by nearly one billion dollars, or an increase of 2.2% during the period from July to January of the fiscal year 2019/2020.
According to the monthly bulletin, the net international reserves recorded about $ 45.5 billion at the end of January 2020, and the Central Bank revealed that the foreign exchange reserves in the central bank's treasury sufficient Egypt's imports of goods for a period of about 8.6 months.
The official reserve assets amounted to about $ 44.6 billion at the end of December 2019, an increase of $ 700 million during the period from July to December in the fiscal year 2019/2020.
Foreign reserves jumped significantly after Egypt started in 2016 a three-year economic reform program supported by the International Monetary Fund. Foreign reserves have seen smaller increases since the summer of 2018.
Source (CNBC Arabic site, Edited)
