Egypt's foreign exchange reserves totaled $ 44 billion and achieved an initial surplus for the first time in 15 years

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The Central Bank of Egypt announced that the country's foreign exchange reserves amounted to $ 44.258 billion at the end of June compared with $ 44.139 billion a month earlier. previous (19659003). Egypt has been in the strong currency since the beginning of the reserves registration in the early 1990s.

The reserves of Egypt were about 19 billion dollars before to sign a $ 12 billion loan agreement with the International Monetary Fund in 2016 and liberalize the exchange rate. Forced to re-attract investors.

On the other hand Finance Minister Mohamed Moait said that his country had achieved a first budget surplus for the 2017-2018 fiscal year, for the first time in 15 years.

The Minister stated that his country had recorded an initial surplus of 0.2% for 4 billion pounds (224.18)

The initial surplus means that state revenues cover its expenditures without interest on the debt.

Egyptian President Abdel-Fattah al-Sisi, ratified today the General Budget Law for the 2018/2019 fiscal year after the adoption of the House of Representatives, and estimated budget uses of one trillion seven hundred and twenty-four billion

Budget revenues and receipts from loans and sales of financial assets and other were estimated at one trillion and nine billion seven hundred and eighty-four twenty-five million pounds, while total domestic and foreign loan repayments rose to 276 billion pounds. Tomorrow .. Shura discusses the reduction of the electricity tariff