Egypt’s foreign reserves declined to $15.8bn at the end of November, according to the Central Bank of Egypt.

The reserves are $1.1bn less than the $16.9bn recorded in the preceding month and mark the first decline since June 2014.

The decline has been mainly attributed to a debt repayment to Qatar.

Egypt made a payment of $2.5bn in November, which brings the total amount repaid to the Gulf country to $600bn. The final remaining instalment of $500m is expected to be paid back in the second half of 2015.

Egypt’s foreign reserves fell to a low of $14.9bn in June 2013 under the regime of former president Mohamed Mursi.

Mursi was ousted from power in early July last year. In the last 12 months, Egypt’s foreign reserves have been edging upwards.

Reserves have yet to rebound to the levels seen before the 2011 revolution. Between 2009 and 2010 reserves ranged between $31bn and 35bn.