Egypt’s foreign currency reserves kept growing in February, reaching $47.4 billion
The Central Bank of Egypt (CBE) said on Tuesday that Egypt’s net international reserves (NIRs) rose by 0.3% in February 2025, reaching $47.39 billion.
International Reserves
The total reserves increased by about $128.3 million, reaching $47.26 billion at the end of January. Reserves have been growing in recent months, rising from $46.95 billion in November to $47.1 billion by the end of 2024.
These reserves include foreign currencies, gold, and other assets, after deducting foreign debts. They show how much money a country’s central bank has.
Reserves are important because they help a country pay for imports, manage debt, and keep its currency stable during economic challenges.
Economic Growth
Egypt’s economy grew by 3.5% in the first quarter of the 2024-25 financial year, compared to 2.7% in the same period last year. This growth was mainly due to government reforms and improvements in industries like manufacturing.
Experts expect Egypt’s economy to grow by 4% by June, supported by the International Monetary Fund (IMF). This matches the 4% growth predicted by Egypt’s Ministry of Planning.
In January, the IMF said it had reached an agreement with Egypt on the fourth review of its financial support program. This could lead to a $1.2 billion loan for Egypt.
In February, Egypt’s statistics agency (CAPMAS) reported that annual inflation slightly dropped to 23.2% in January, compared to 23.4% in December.
Published: 5th March 2025
For more article like this please follow our social media Facebook, Linkedin & Instagram
Also Read:
How Technology is Shaping the Future of Retail Business
PwC seeks to mend ties with Saudi Arabia after PIF fallout
Building a Sustainable Business: Tips for Long-Term Growth
