An important statement from the Central Bank.. The return of Egyptian fish exports to Europe.. and the rise in the value of Egypt’s wheat imports.. Welcome to the Saturday News Harvest
Starting with the Central Bank, which revealed that the net foreign assets of the Egyptian banking system achieved a surplus of $9.2 billion at the end of October, equivalent to 450.861 billion pounds, compared to $10.3 billion (equivalent to 498.6 billion pounds) at the end of September.
Net foreign assets achieved a surplus for the first time with a value equivalent to 676.4 billion pounds during the month of May, compared to a deficit equivalent to 174.385 billion pounds at the end of last April. Foreign assets achieved a surplus for the first time since January 2022, which achieved a surplus at the time equivalent to 9.674 billion pounds.
The total foreign assets of the banking system (the central bank and banks together) amounted to the equivalent of 3.584 trillion pounds at the end of October, compared to the equivalent of 3.562 trillion pounds at the end of September.
At the level of commitments, they rose to 3.133 trillion pounds at the end of October, compared to 3.064 trillion pounds at the end of September.
We go to Tariq Al-Houbi, head of the National Food Safety Authority, who announced the reopening of fish exports to European Union countries after a three-year hiatus, after the authority fulfilled all the requirements and requirements of the European Union in this regard.
He said that this major achievement was achieved after the National Food Safety Authority received the file at the end of 2021, as the Authority has worked hard since then to establish an integrated regulatory system throughout the fish product trading chain, starting from the primary source, passing through the factories, and ending with its launch in the local markets.
Al-Hobi explained that the previous inspection report of the European Commission contained several recommendations and observations in accordance with European legislation in this regard. Accordingly, the Food Safety Authority took it upon itself, in cooperation with all relevant authorities, to work on finalizing all these recommendations and observations to achieve integration in the regulatory system for fish products. Which resulted in the documentary completion of the regulatory system in June 2023.
He pointed out that this entailed the European Commission conducting a review and audit visit in the period from May 28 to June 6, 2024, in order to evaluate the trading and control system for marine fishery products in Egypt, pointing out that the results of the visit were largely positive.
And we go to important news… as the value of Egypt’s wheat imports increased by 17% during the first nine months of this year, to record $3.36 billion compared to $2.86 billion in the same period last year, a growth of 17%, according to a government document seen by Al Arabiya Business. “.
The document revealed that the wheat import bill during the month of September alone declined by 22%, to $343 million, compared to $441 million in the comparative month of last year.
Sources in the General Authority for Supply Commodities in Egypt attributed the increase in the value of imports primarily to the increase in imported quantities for the benefit of the public and private sectors during the comparison period, although the increase in quantities was greater due to the decline in global prices in general during this period.
The sources explained that the amount of imports in the first 9 months of the current year amounted to about 10.94 million tons, compared to about 7.7 million tons in the corresponding period last year, with a growth of 42%.
We go to Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, who confirmed today, Saturday, that the ministry, in cooperation with the relevant ministries, aims to increase the percentage of renewable energy in Egypt to 42% by 2030.
The Minister added, during his visit to Port Said Governorate to attend the graduation ceremony of the first batch of the Zohr School of Applied Technology in Port Said, and inspect a number of community contribution projects, that the integration work in the country and the advancement of industry aims to provide job opportunities for graduates that provide them with a “decent life” and a future that fulfills their ambitions and dreams. .
