25
Central Bank of Egypt (CBE) Governor Hisham Ramez said Egypt’s foreign currency reserves will record a slight decline during November, 2013 compared to a month earlier.
The reserves were $18.59 billion at the end of October, Ramez said, adding that the November figure is due out soon.
Ramez further revealed in a keynote speech at the Gulf-Egyptian Investment Forum an ambitious plan by which the Egyptian Central Bank is aiming to support the SMEs as well as the mortgage sector, notably the middle-class houses.
The top official has emphasized on the capability of the Egyptian banking system to face the ongoing economic challenges, with no need for any governmental or foreign assistance.
