Egypt's financial conditions stable, showing better performance - IDSC affirms

CAIRO - 3 August 2018: The Cabinet's Information and Decision Support Center (IDSC) denied reports circulated on several websites and social media, claiming that Egypt is suffering a financial crisis and is incapable of refunding payable deposits for countries.

In its report on Friday, the center said that it had contacted the Finance Ministry which refuted as "baseless" the news.

The Finance Ministry affirmed that Egypt's current economic conditions are stable and its economic indices are showing better performance, read the report.

Egypt’s foreign currency reserves increased to reach dlrs 44.314 billion at the end of July, up from dlrs 44.258 billion in June, said the report.

The ministry highlighted a number of indications showing that the Egyptian economy has been recovered, topped by the great foreign investments which have hit dlrs 60 billion in two years.

The ministry urged all media outlets to be accurate while publishing any reports.