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Egypt's reserves are recovering and approaching levels in the era of Mubarak
20:40 - 06/04/2017
Central Bank of Egypt on Sunday revealed high foreign reserves and reach the end of May / last May to 31.123 billion, compared to US $ 28.640 billion at the end of April / April.
This means that foreign exchange reserves have stepped up within one month by $ 2.5 billion, representing 8.7%.
Analysts had predicted the high Egyptian reserve for more than $ 31 billion, after providing the international financial reserves and reducing overall bonds recently issued by Egypt.
Amr Garhi Egyptian Minister of Finance said in a special statement for the "seventh day" The bonds, issued by Egypt recently, amounting to $ 3 billion toll accounts entered Egypt on Wednesday.
The collapse began a trip to the reserves of the Central Bank of Egypt after the revolution of January 25 2011 and the subsequent state of security chaos and stop the production and the flight of many billions abroad, and the reserves prior to the overthrow of former President Hosni Mubarak at $ 35 billion.
And then it fell to arrive in March / March 2012 to $ 15.1 billion. However, the reforms of the current government contributed to the recovery of reserves.
The Egyptian government has implemented a program of economic reform since the end of 2015 included a tax value added, and the liberalization of the Egyptian pound exchange rate, reduce electricity support and petroleum products, in an effort to revive the economy and bring it back to the path of growth, reducing imports of non-essential goods. / Ended 25 d
http://www.almaalomah.com/2017/06/04/164431/
20:40 - 06/04/2017
Central Bank of Egypt on Sunday revealed high foreign reserves and reach the end of May / last May to 31.123 billion, compared to US $ 28.640 billion at the end of April / April.
This means that foreign exchange reserves have stepped up within one month by $ 2.5 billion, representing 8.7%.
Analysts had predicted the high Egyptian reserve for more than $ 31 billion, after providing the international financial reserves and reducing overall bonds recently issued by Egypt.
Amr Garhi Egyptian Minister of Finance said in a special statement for the "seventh day" The bonds, issued by Egypt recently, amounting to $ 3 billion toll accounts entered Egypt on Wednesday.
The collapse began a trip to the reserves of the Central Bank of Egypt after the revolution of January 25 2011 and the subsequent state of security chaos and stop the production and the flight of many billions abroad, and the reserves prior to the overthrow of former President Hosni Mubarak at $ 35 billion.
And then it fell to arrive in March / March 2012 to $ 15.1 billion. However, the reforms of the current government contributed to the recovery of reserves.
The Egyptian government has implemented a program of economic reform since the end of 2015 included a tax value added, and the liberalization of the Egyptian pound exchange rate, reduce electricity support and petroleum products, in an effort to revive the economy and bring it back to the path of growth, reducing imports of non-essential goods. / Ended 25 d
http://www.almaalomah.com/2017/06/04/164431/
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