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Egypt Today: More than $100B pumped in Egypt’s economy since float

Since the float, Egypt’s economic indicators have gradually started to improve.
07.02.18 | Interesting article at Egypt Today

More than $100 billion have been pumped into the Egyptian economy since the flotation of the pound in November 2016, Central Bank of Egypt’s (CBE) Governor Tarek Amer said Tuesday.

This came on the sidelines of his participation in "Seamless North Africa FinTech" Conference, which kicked off in Cairo Tuesday.

Since the float, Egypt’s economic indicators have gradually started to improve.

Egypt’s foreign reserves rose by some $18 billion in 14 months, or since the country floated its currency in November 2016, to record $37 billion in December 2017, compared to only $19 billion in October 2016, CBE data showed.

The reserves registered in January the biggest month-on-month jump since July last year as the country pushed forward with economic reforms aimed at boosting growth.