Cairo – Mubasher: Egypt’s net international reserves increased to $35.24 billion at the end of January 2024 from $35.21 billion in December 2023.

The registered amount was also higher than $35.17 billion at the end of November 2023, according to the latest data from the Central Bank of Egypt (CBE).

It is worth underlining that the headline seasonally adjusted Purchasing Managers’ Index (PMI) of the Arab Republic dropped to 48.1 in January 2024 from 48.5 in December 2023.

The PMI reading marked a further decline in operating conditions at the beginning of 2024, as sales volumes continued to fall amid hiking price pressures.