A recent report of the Central Bank of Egypt asserted the Egyptian economy is performing well as the net international reserves at the Central Bank of Egypt rose US$ one billion by 5.3% over last July...

A recent report of the Central Bank of Egypt asserted the Egyptian economy is performing well as the net international reserves at the Central Bank of Egypt rose US$ one billion by 5.3% over last July to reach US $ 20.2 billion covering 10.7 months of commodity imports. The report showed that net foreign reserves went up by US$ 5.461billion compared to June 2004, indicating that total deposits at banks except the CBE rose during last June to about LE 521.7billion against LE 518.7 last May and LE 463.5 billion in June 2004. The total domestic liquidity rose to LE 493.9 billion in last June against LE 490.1 billion in the previous month and LE 434.9 billion in June last year. (Al-Ahram)