Egypt’s current gold production is placed at around 15.8 tons annually
The measures include launching the initiative “Towards Green Development for the Tourism Sector” in 2020, in coordination between the Ministries of Environment and Tourism.
Since the start of production in 2009, the Sukari mine has produced more than 5 million ounces of gold, and today the expected life of the mine is 14 years.
Nabq Reserve was declared a nature reserve in 1992.
According to Central Bank data published on its website, the value of gold recorded in foreign exchange reserves amounted to about $7.597 billion at the end of last April, compared to about $7.807 billion at the end of March.
Madbouli added that President Sisi made it clear that the state was able, with good and proper planning, to supply sufficient reserves of goods, which enabled the Egyptian state to absorb and deal with this unprecedented crisis.
“The state budget is capable, and Egypt achieved growth rates that exceeded all expectations,” he added.
The ministry said, in a statement, Tuesday, that in the context of strengthening the country's stock of supply oil, a representative of the General Authority for Supply Commodities has contracted a quantity of 84,000 tons of raw edible oil, including 73.5 thousand tons of imported oil.
The Egyptian banks' assets and reserves abroad returned to their previous record levels, a matter which reflects the success of the monetary policy.
The ambassador unveiled that charter flights between Lyon and Hurghada will be launched in 2019.
The country expects to produce about 2.3 million tonnes of sugar this year and consumes about 3 million tonnes, filling the gap with imports.
Youth Love Egypt Foundation has successfully raised awareness among more than 125,0000 visitors of Wadi El-Rayyan and Qaroun Lake in Fayoum.
A wrap-up of the most prominent business news of the day.
Foreign currencies’ balance in Egypt’s international reserves increased to $40.5 billion in April, increasing by LE 23 billion in one month.
The Central Bank announced on Thursday the renewal of treasury bills worth $1.1 billion for local banks and international institutions bought in May last year.
Individuals and corporate deposits in Egypt’s banks amount to LE 5 trillion, Governor of the Central Bank of Egypt Tarek Amer said on Sunday.
Foreign currencies’ balance in Egypt’s international reserves increased to $39 billion in March 2018, up from $25 billion in March 2017.
Egypt plans to issue $6-7 billion Eurobonds in the new fiscal year 2018/19, Finance Minister Amr el-Garhy said Wednesday.
The U.S. dollar's share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low.
Assuming the election passes smoothly, Egypt should enjoy an upturn in growth over the next 2-3 years, a report by Capital Economic said.