Egypt's Net Foreign Reserves Top $55 Billion for the First Time

The Central Bank of Egypt reported that net international reserves reached $55.072 billion at the end of June 2026, up from $53.134 billion in May — a roughly $2 billion single-month increase and a new record high. Prime Minister Mostafa Madbouly announced the milestone on July 16, 2026, calling it 'a good indicator' reflecting the stability of the Egyptian economy, driven by sustained growth in exports, tourism revenue, and remittances from Egyptians working abroad (which reached $43.1 billion over eleven months of the fiscal year). Madbouly acknowledged that the improvement in macro indicators had not yet translated into relief for ordinary citizens, noting that while inflation is falling, 'the citizen may say these figures are very good, but what matters to him is to see prices stabilise and decline.'