Balance of Payments
Egypt's tourism sector also reported strong growth, with revenues increasing by an impressive 26.8 percent on a yearly basis in FY2022/2023, soaring to $13.6 billion
CBE confirmed in the balance of payments report issued, Tuesday, that the period from July to March of the fiscal year 2020/2021 witnessed an improvement in the performance of the Egyptian economy’s transactions with the outside world.
The current account during the period from July to March of FY 2018-19 posted a deficit of $7.6 billion
The Central Bank of Egypt announced the data of balance of payments, revealing positive results, including the increase in the export of goods.
CBE attributed the surplus to the current account deficit which stabilized at $1.8 billion and the capital and financial account that stood at $1.6 billion.
A wrap-up for the most prominent business news of the day.
The flotation has succeeded in attracting Egyptian expatriates into transferring their cash back through the banking system.
Non-petroleum exports hiked 15.9 percent year-on-year in that period to stand at $21.7 billion.
The non-oil trade deficit fell to $7.3 billion in Q4 from $7.8 billion in the previous quarter, as the non-oil imports decreased to $11.1 billion from $11.6 billion in Q3.
Egypt’s net foreign direct investments (FDI) have increased to $13.3 billion in the last fiscal year (FY) 2016/2017, with a 6.5 percent increase.
Egypt’s balance of payments (BOP) registered a surplus $11 billion in first three quarters of the current fiscal year, the central bank said Wednesday.
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