Egypt’s Net Foreign Assets Hit Record $18.5 Billion as Economic Reform Plan Unfolds

Egypt’s net foreign assets (NFA) climbed to an all-time high of $18.5 billion in July, driven by strong remittances, Gulf investments, and reforms that followed the sharp currency devaluation last year, according to central bank data.

The July figures marked a $3.54 billion increase from June, when NFA stood at $14.96 billion. Analysts noted that the bulk of the rise came from commercial banks, whose foreign assets increased by $3.28 billion to $39.49 billion, while their liabilities slipped by $166 million to $31.50 billion.

The Central Bank of Egypt (CBE) highlighted in July that remittances from Egyptians abroad surged after the March 2024 devaluation, nearly doubling to $26.4 billion in the nine months through March 2025, compared with $14.5 billion in the same period a year earlier.

Egypt’s NFA had fallen into negative territory in February 2022 amid severe foreign exchange pressures, only turning positive again in May 2024. The latest figures surpass the previous record of \$17.47 billion set in July 2021.

The financial milestone comes as Egypt launches its 2025–2026 economic and social development plan, designed to navigate global and regional challenges while sustaining growth. The plan, unveiled by the Ministry of Planning, adopts a medium-term budgetary framework through 2028–2029 and emphasizes greater alignment between fiscal and development priorities.

According to the ministry, the strategy prioritizes structural reforms across three pillars: macroeconomic stability, competitiveness and private sector participation, and a green, export-oriented economy. Key sectors singled out for investment include agriculture, manufacturing, ICT, tourism, logistics, as well as health, education, and scientific research.

The government is targeting GDP growth of 4.5% in FY2025–2026, with real GDP projected to reach 9.1 trillion Egyptian pounds ($187.6 billion) and nominal GDP rising to about 20.4 trillion pounds ($420.6 billion). Planned total investments are set to climb to 3.5 trillion pounds ($72.2 billion), up from 2.6 trillion pounds ($53.6 billion) expected this fiscal year.

For the first time, the plan also aims to raise the investment rate to 17.1% of GDP in 2025–2026, compared with 15% in 2024–2025 and 13% in 2023–2024, as the government seeks to close regional development gaps and reinforce Egypt’s long-term growth trajectory.