Egypt’s International Reserves Hit USD 47.1 Billion in December 2024

Egypt’s net international reserves reached a historic high of USD 47.1 billion by the end of December 2024, reflecting a USD 157 million increase from November.

This milestone continues a steady upward trend observed in recent months, with reserves rising from USD 46.94 billion in October to USD 46.95 billion in November before reaching the December figure. On a year-on-year basis, the reserves demonstrated significant growth, increasing by USD 11.9 billion from USD 35.22 billion in December 2023.

The reserves, comprising foreign currencies, gold and other assets after accounting for foreign liabilities, serve as a key indicator of the nation’s financial stability. They play a vital role in meeting international financial obligations, including funding imports, servicing foreign debt, and maintaining the stability of the national currency during periods of economic uncertainty.