Central Bank of Egypt. Ahram Gate.
The country's reserves reached $34.87 billion in July, up from $34.8 billion in June.
Over the past 11 months, Egypt’s international reserves have been ticking upward after being hit hard by the Ukraine war last year. They reached a low point of $33.14 billion in August 2022 after declining from a high of $40.9 billion in February 2022.
However, the deficit in Egypt's net foreign assets surged by over 125 percent on a yearly basis in June 2023.
The country seeks to tackle a critical shortage of US dollars from which it has suffered for almost a year and a half, to bridge an estimated $17 billion financing gap until 2026.
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