Egypt reveals that it has received deposits from Arab countries worth $1.7 billion
the total short-term Qatari deposits with the Egyptian Central Bank amounted to 4 billion dollars, while Libya’s deposits reached 900 million dollars, compared to 200 million by the end of September 2022.
Shrouq
Data from the Central Bank of Egypt, which was issued today, Sunday, revealed that Egypt had obtained an additional $1 billion deposit from Qatar, and another $700 million from Libya by the end of last year 2022.
According to this data, the total short-term Qatari deposits with the Egyptian Central Bank amounted to 4 billion dollars, while Libya’s deposits reached 900 million dollars, compared to 200 million by the end of September 2022.
$14.9 billion
Short-term deposits from Arab countries with the Central Bank of Egypt reached $14.9 billion, compared to $13.2 billion at the end of last September, and long-term deposits from Arab countries stabilized at $15 billion, according to Central Bank of Egypt data.
Gulf deposits
It included Gulf deposits, which countries agreed to renew until the end of Egypt's program with the International Monetary Fund, 4 billion dollars for Kuwait, divided into two deposits, the first due in September 2023 and the second in April 2023. and 5.7 billion dollars of Emirati deposits, and 5.3 billion dollars of Saudi deposits.
Egyptian economy
Investors' sentiment towards the Egyptian economy was boosted during the month of May amid signs of progress in the government's offering program. The Egyptian government implemented the first deals within the program during the month of May, as it sold its share in the Paints and Chemical Industries Company (Pachin), in addition to 10% in Telecom Egypt.
Government offering program
The government is working on completing several other deals within the framework of implementing the government offering program. Among the companies that there is progress in negotiations regarding its acquisition, Telecom Egypt's stake in Vodafone Egypt. Wataniya and Safi, the Egyptian Drilling Company, and the Egyptian Linear Alkyl Benzene Production Company (ELAP).
The Egyptian economy in 10 years
In another side the value of remittances from Egyptians working abroad amounted to $219.4 billion over the past 10 years.
The value of net foreign direct investments reached $63 billion over the past 10 years.
The number of tourists arriving in Egypt reached 90.1 million during the past 10 years.
Tourism revenues amounted to $63.4 billion over the past 10 years.
The net tonnage of ships transiting the Suez Canal reached 11.1 billion tons during the past 10 years.
The Suez Canal revenues amounted to $50.9 billion over the past 10 years.
Egyptian exports $311.7 billion over the past 10 years.
