- JPMorgan expects Egypt's foreign exchange reserves to rise by $16.2 billion in the next fiscal year 2024-2025.
- The bank said, in a report, that its expectations indicate an increase in Egypt’s reserves by $2.6 billion in the fiscal year 2025-2026.
- The Central Bank of Egypt announced that its net foreign exchange reserves amounted to $40.36 billion at the end of last March.
- Central Bank data also showed that the deficit in Egypt’s net foreign assets decreased by 217.1 billion pounds ($7.04 billion) to 679 billion pounds ($14.25 billion) in February, after a $5 billion payment related to the Ras al-Hikma deal.
- On the other hand, JP Morgan expected net foreign portfolio investment flows to reach $8.1 billion.
