This marks the lowest surplus since May, when the country shifted from a deficit to a surplus for the first time in over two years
The meeting reviewed the key macroeconomic indicators and El-Sisi was briefed on the indicators related to the banking sector, monetary policy, and the exchange rate, as well as the Central Bank's policies to combat inflation. The discussion also focused on the government's efforts to increase foreign currency reserves.
In September, the CBE said that Egypt's net international reserves soared to $ 46,597 billion by the end of August, compared to $46.49 billion by the end of July.
This marks the fifth consecutive month of surplus for the banking sector after it shifted from deficit to the green in May for the first time since February 2022
Despite the decrease, this marks the fourth consecutive month of surplus for the country, a positive trend that began in May when net foreign assets transitioned from deficit to surplus for the first time since February 2022.
