By: Islam Fadl
Cairo – Mubasher: Egypt has succeeded in implementing its economic reform programme primarily thanks to the concerted efforts between the Central Bank of Egypt (CBE) and the government, the central bank’s governor Tarek Amer said.
This programme has successfully restored confidence of international financial institutions in the Egyptian market, Amer highlighted during the inaugural session of the meeting of the Council of the Arab Central Banks Governors and Arab Monetary Associations on Sunday.
Egypt’s real gross domestic product (GDP) growth recorded 5.5% at the end of March, while the balance of payment registered a surplus of $12.8 billion at the end of fiscal year 2017/2018, he revealed.
At the end of August, the country’s foreign cash reserves achieved a record high level of $45 billion, while balances of Egyptian banks abroad amounted to $18.9 billion.
