The Suez Canal Economic Zone (SCZone) has attracted investments totaling EGP 8.3 billion across 264 projects in its industrial zones and ports over the past 33 months.

The Suez Canal Economic Zone (SCZone) has achieved revenues totaling EGP 8.245 billion for the fiscal year (FY) 2023/2024, EGP 5.932 billion of which are in US dollars, comprising 72% of total revenues, Chairman Waleid Gamal El-Dien announced in a meeting with Prime Minister Mostafa Madbouly.

Egypt's net foreign assets (NFAs) hit a negative EGP 174.385 billion in April, compared to a negative EGP 199.652 billion at the end of March, data from the Central Bank of Egypt (CBE) showed.

In December 2022, the International Monetary Fund's (IMF) board approved a $3 billion loan for Egypt. Under this agreement, Egypt is committed to boost its various sources of foreign currency to close the estimated financing gap of $17 billion. In this Factsheet, Arab Finance gives you a holistic view of the main sources of foreign currency inflows to Egypt and their performance in the second quarter (Q2) of the current fiscal year (FY).

Egyptian Prime Minister Mostafa Madbouly said that estimations of the hard currency are overstated and that the Egyptian pound is undervalued.