Foreign Reserves Reach Record High: Implications for Egyptians' Livelihoods

The foreign currency reserve in Egypt has risen to over $55 billion for the first time in the country’s history, reflecting the strength of the economy and the response of fiscal policies. Despite the ongoing impact of regional challenges and inflation remaining high at 14.3%, the feeling of improvement in living standards has slowed due to rising prices of goods and services. Remittances from Egyptians abroad increased from $26.4 billion to $34.9 billion during the first nine months of the fiscal year, while tourism revenues grew from $12.5 billion to $14.4 billion.

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