Egypt’s net foreign reserves increased year-on-year at the end of December 2017, Invest-Gate reports.

Net foreign reserves reached USD 37.019 bn at the end of December 2017, up from USD 36.723 bn at the end of November, according to a statement by the Central Bank of Egypt on January 3.

In FY2016/17, which ended on June 30, net foreign direct investment (FDI) increased 14.5% to USD 7.9 bn from USD 6.9 bn in the previous fiscal year.