NFAs
Since shifting from a deficit in May, breaking a red streak that lasted since February 2022, September’s numbers mark the fifth consecutive month of surplus for the banking sector.
The Central Bank of Egypt revealed a substantial reduction in the net foreign assets (NFAs) deficit in March, marking its lowest level in over two years
This decline was primarily driven by a $5 billion payment received from the sale of development rights to Ras El Hekma.
