Arab Finance: Egypt’s net foreign assets (NFAs) have shifted to a surplus of EGP 676.405 billion at the end of May from a deficit of EGP 174.385 billion in April, as per data from the Central Bank of Egypt (CBE).

This marks the first NFA surplus recorded in 28 months.

The data also showed that foreign assets with the CBE amounted to EGP 2.112 trillion at the end of May, while foreign assets with banks stood at EGP 1.524 trillion.

Meanwhile, foreign liabilities with the CBE and banks totaled EGP 29.605 trillion.

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