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Monday, 24 December 2018

Gov’t expects USD 86.7 bn in foreign currency inflows into Egypt during 2019

Gov’t expects USD 86.7 bn in foreign currency inflows throughout 2019: The government is expecting 2019 to see USD 86.7 bn in foreign currency inflows, government sources told Youm7. The inflows include:

  • Exports — USD 27 bn
  • Remittances — USD 26 bn
  • Tourism — USD 11 bn
  • Foreign direct investment — USD 9 bn
  • Suez Canal — USD 5.7 bn
  • Foreign currency-denominated bonds — USD 4 bn
  • IMF facility (fifth and sixth tranches) — USD 4 bn

Egypt’s net foreign reserves have doubled since the central bank floated the EGP in November 2016 but have more or less remained steady in recent months, standing at USD 44.513 bn by the end of November.

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