Egypt's finance minister said on Tuesday reserves of about $26 billion were adequate and hoped that level would be maintained.

He said Egypt could tolerate a lower level if needed.   

Reserves were $26.57 billion at the end of June, down $659 million on the previous month but showing a much slower slide than earlier this year after an uprising scared away tourists and investors. Reserves were $36 billion before the uprising.

Finance Minister Hazem Beblawi also told Reuters tourism was showing signs of recovery, citing a discussion with the tourism minister.

"He (the tourism minister) also mentioned to me that after all that we expect that tourism will contribute for this year $10 billion in revenues," Beblawi said, referring to the financial year that began on July 1. -Reuters