Planning min: Egypt’s net foreign reserves increase for 10th month in row

Planning Minister Hala El Saeed reviewed, during a cabinet meeting held on Wednesday 2/6/2021 under Prime Minister Mostafa Madbouli, reports on the performance of the Egyptian economy in the third quarter of the 2020-2021 fiscal year.

Growth rates recorded during the third quarter of 2020-2021 went up by 2.9 percent, the minister said, adding that the country continue achieving high net foreign reserves for the tenth consecutive month, registering 40.3 billion dollars in April.

The inflation rate declined in April to record 4.4% year to year, she said, pointing out that the Suez Canal achieved in April revenues worth 553.6 million dollars, the highest monthly revenues ever in its history.

The minister said that the total production index rose to 103.48% in February, compared to 101.04% in January.

Source: State Information Service Egypt