Egyptian Central Bank's assets rose by $790 million in July

Net foreign assets held by the Central Bank of Egypt rose for the third consecutive month, recording an increase of $790 million in July, despite the depreciation of the Egyptian pound against the US dollar during the month.

Recent data released by the Central Bank showed that net foreign assets rose by approximately 4.6% on a monthly basis, reaching $17.76 billion at the end of July, compared to $16.97 billion at the end of June. This increase coincided with a decline in the exchange rate of the pound used to calculate the dollar value of assets, as the dollar’s rate fell from approximately 49.28 pounds at the end of June to 51.19 pounds at the end of July.

As part of the Egyptian state’s efforts to deepen local manufacturing and localize modern technologies in the fields of new and renewable energy, the Suez Canal Economic Zone witnessed the laying of the foundation stone for a specialized factory in energy storage systems.

Sources in the Furniture Export Council stated that furniture sector exports grew by 5% during the first half of 2026 compared to the same period last year, with expectations of further growth by the end of the current year.

On another front, a first-half 2026 report issued by The Board Consulting showed that total sales by Egypt’s top 10 real estate developers reached approximately 670 billion pounds during the first half of 2026, an increase of 2.9% compared to approximately 651 billion pounds in the first half of 2025, despite relative stagnation in the real estate market, driven by rising property prices.

The report noted that Talat Moustafa Holding Group continued to lead the list of the largest real estate developers in terms of sales value in the Egyptian market, recording total contracted sales of 219 billion pounds during the first half of the year, compared to 211 billion pounds, with a growth rate of approximately 4%, despite relative slowdown in the real estate market.