Foreign Reserves Expected To Rise On Morsi’s Foreign Visits

Rania Al-Mashat, deputy governor of Central Bank of Egypt (CBE), expected Egypt’s foreign cash reserves to soar in the upcoming period after many foreign investors have showed willingness to invest in Egypt, following the president’s several visits to China, Italy, European Union, Kingdom of Saudi Arabia and Iran.

Injecting more foreign investments to the Egyptian market will results in more foreign cash inflows to the country, Al-Mashat continued.

In addition, the rates of industrial production are expected to surge, and afterwards, the Egyptian exports will increase. These factors will definitely increase the volume of Egypt’s foreign cash reserves, she concluded.