Egypt’s net foreign assets fall by EGP 160.2B in January

Updated 3/2/2023 9:23:00 AM
Egypt’s net foreign assets fall by EGP 160.2B in January

Arab Finance: Egypt’s net foreign assets dropped by EGP 160.2 billion in January, Reuters reported on March 1st, citing data from the Central Bank of Egypt (CBE).

The state’s net foreign assets fell to a negative EGP 654.43 billion at the end of January, versus a negative EGP 494.3 billion at the end of December 2022, data showed.

This decline came as a result of debt maturing and importers clearing backlogs from ports.

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