Egypt's Net Foreign Assets Fall by About 13% in September
Published
Egypt's net foreign assets declined by 13% during last September, reaching $27.01 billion. The figure had stood at $31.13 billion in the previous month of August.
Net foreign assets are the difference between what a country owns in foreign currency assets and what it owes in liabilities denominated in the same currencies. This indicator is one of the important measures followed by economists, as it helps show a country's ability to meet its external obligations.
The data indicates that the decline amounted to about $4.12 billion in just one month. The available information reported this drop without further details about its causes or the entities that contributed to it.
Those following economic developments in Egypt track this data regularly, as it provides a picture of the state of the country's foreign reserves. It will be useful to follow upcoming data to see whether this trend will continue in the months ahead.
Sources: العربية
More Egypt news
- KemetX summit in Egypt targets $5 billion for startups
- Al-Ayyat train collision sparks parliament debate on rail safety
- MSCI adds Telecom Egypt and drops Eastern Company from index
- Cairo Criminal Court Adds 35 Entities and 36 Individuals to Terrorism Lists
- Significant Drop in Gold Prices in Egypt as the Price Gap Widens
- Egypt Sees Notable Progress in Entrepreneurship and Investment Attraction for Startups
- vivo Egypt Plans to Deepen Local Smartphone Manufacturing
- Egypt's Under-17 National Team Begins Its African Qualifiers Campaign Against Tunisia