Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

CBE: Egypt Secures $12 Bln in Foreign Flows


Sun 16 Feb 2020 | 11:37 PM
Taarek Refaat

An official source at the Central Bank of Egypt (CBE) said on Sunday that since the beginning of this year, Egypt has received foreign flows amounting to more than $12 billion since January.

The source added that the flows include remittances of Egyptians abroad and foreign investments in treasury bills (T-bills), exports and tourism.

He explained that the flows reflect the great interest of international funds and institutions in the Egyptian market, which are the most attractive to them, despite the tense regional situation.

The source pointed out that the Egyptian economy is moving in the right direction, considering that the economic reforms that Egypt witnessed during the past years started to bear fruit, and without that, this great interest would not have appeared from international investors.