$7.7 billion.. Egypt's gold reserves increased

Egypt's gold reserves rose to $7.773 billion last January, from $7.326 billion in December, according to the latest Central Bank of Egypt data.

High net international reserves

The latest monthly report issued by the Central Bank for the month of February 2023 included the development of the total and net international reserves of the Central Bank, the latest of which was in January 2023, as net international reserves reached $34.224 billion in January 2023, from $34.003 billion in December 2022.

High drawing rights balance

According to the report, the balance of special drawing rights units came to 324 million dollars, up from 13, while foreign currencies recorded in January 26.131 billion dollars from 26.669 billion dollars in the previous December.

Natural gas reserves

On the other hand, Egypt's natural gas reserves amounted to 63 trillion cubic feet (1.9 trillion cubic meters) by the end of 2022, unchanged from the previous year, according to Oil & Gas Journal estimates, but it is expected to rise this year as soon as the evaluation of reserves in new discoveries is announced.

Egypt is looking forward to expanding the scope of new explorations and enhancing its reserves of natural gas, in light of its endeavor to be an important source of liquefied natural gas, amid increasing global demand, after the Russian invasion of Ukraine.

With the intensification of exploration efforts, Egypt is expected to announce huge oil and gas discoveries during the next stage, with plans to invest about $2.1 billion until 2025, in partnership with international energy companies in the eastern and western regions of the Mediterranean.