Cairo – Mubasher: Egypt achieved a foreign asset surplus for the first time since January 2022, marking a 28-month milestone, in May 2024.
Egypt reported a foreign asset surplus of EGP 676.40 billion ($14.03 billion) in May 2024, compared to a deficit of EGP 174.38 billion ($3.70 billion) in April, according to data from the Central Bank of Egypt (CBE).
Total foreign assets in the Egyptian banking system increased by 3.99% to EGP 3.63 trillion ($75.47 billion) in May from EGP 3.07 trillion ($63.87 billion) in April.
Meanwhile, total foreign liabilities decreased by 2.93% to EGP 2.96 trillion ($61.43 billion) in May from EGP 3.25 trillion ($67.48 billion) in the previous month.
It is noteworthy that Egypt's foreign asset deficit reached a new record low in April, after registering a 25-month low in March.
