Yara El-Janainy_ Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), stated that the Egyptian economy enters the current crisis with stronger indicators compared to the 2022 and 2023 crisis, as foreign exchange reserves rose to approximately $57 billion, compared to about $33 billion during the previous crisis, within the framework of the improvement witnessed by the Egyptian economic indicators following the implementation of the flexible exchange rate policy.
Abdalla added, during a panel discussion entitled "Foreign Exchange Resources and Debt Management" within the activities of Egypt Forum 2026, that the net foreign assets of banks shifted from a deficit of about $30 billion to a surplus of approximately $30 billion.
He explained that remittances from Egyptians working abroad increased from about $22 billion to $27 billion, coinciding with a decline in the inflation rate from about 38% to nearly 13%.
He pointed out that the 2022 and 2023 crisis witnessed an accumulation of foreign currency provision backlogs and cargo congestion at ports, whereas there are currently no backlogs in foreign exchange provision.
