Cairo – Mubasher: Egypt’s net foreign assets surplus soared by 332% year-on-year at the end of May to EGP 299.4 billion ($16.7 billion) from EGP 69.38 billion ($3.8 billion).
On a monthly basis, the surplus in foreign assets declined by 18%, as compared with EGP 369 billion in April, according to data by the Central Bank of Egypt (CBE).
Domestic assets increased to EGP 3.1 trillion last May, versus EGP 2.7 trillion in the year-ago period.
Egypt’s net international reserves rose to $44.138 billion at the end of May, versus $44.029 billion in April.
