Egypt’s net foreign reserves climbed to a record high at the end of June, surpassing the $55 billion mark for the first time in the country’s history, underscoring the continued strengthening of its external financial position.
The milestone was announced by Egyptian Prime Minister Dr. Mostafa Madbouly during the government’s weekly press conference on Wednesday, citing the latest data released by the Central Bank of Egypt.
According to Madbouly, the country’s foreign currency reserves increased by approximately $2 billion in June alone, reflecting sustained improvements across key economic indicators. He said the rise demonstrates the government’s ongoing efforts to reinforce Egypt’s financial resilience, strengthen its foreign exchange position, and maintain macroeconomic stability amid global economic challenges.
The record reserve level is expected to enhance Egypt’s ability to meet external obligations, support the stability of the Egyptian pound, finance essential imports, and strengthen investor confidence. Madbouly added that the latest figures highlight the state’s success in building foreign exchange buffers while advancing broader economic reform measures aimed at supporting sustainable growth and long-term financial stability.
