BOP
Egypt, Saudi Arabia and the United Arab Emirates stepped up diplomatic coordination on Saturday ahead of this week’s high‑level meeting of the Gaza Board of Peace (BoP) in Washington.
The National Committee for the Administration of Gaza (NCAG), formed as part of the second phase of US President Donald Trump’s peace plan for Gaza, is responsible for managing daily life in Gaza during a transition period after the two-year Israeli war.
The primary driver of this shift was a sharp expansion in the current account deficit, which rose to $5.9 billion, compared to $2.8 billion in the first quarter of the prior year.
According to a recent report from the Central Bank of Egypt (CBE), remittances climbed by 84.4 percent to reach $8.3 billion in the first quarter of FY 2024/2025, providing partial relief to Egypt's balance of payments (BoP), which registered a $991.2 million deficit.
According to the Central Bank of Egypt’s (CBE) latest release on the country’s Balance of Payments (BoP), Egypt recorded a $9.7 billion surplus in the fiscal year 2023/2024, while the current account deficit expanded, registering at $20.8 billion
The largest surge of inflows, approximately $40.5 billion, was recorded in the second half of the fiscal year, mainly due to the execution of the Ras El Hekma agreement valued at $35 billion
In its latest report on the country’s Balance of Payments (BoP), the Central Bank of Egypt (CBE) highlighted that the overall surplus was largely driven by a substantial performance in the second half of FY2023/2024, where it soared to $10.1 billion
The CBE added in a report that the current account deficit posted $ 9.6 billion, compared to $ 1.8 billion.
According to the statement, the current account during the period from July to the end of last March amounted to about $13.5 billion.
The current account deficit witnessed an improvement of 27.2 percent, compared to the preceding quarter (April/June 2020) to post $ 2.8 billion (against US$ 3.8 billion).
CBE noted in a report that the current account reached a deficit of $11.2 billion, compared to a$10.9 billion in FY 2018/2019 and $6 billion in FY 2017/2018.
The June BOP became $3.3 billion instead of $3.61 billion.
The current account deficit retreated by $ 684.4 million or 13 percent, to register $4.6 billion.
The current account deficit narrowed by $ 629.8 million to $ 1.4 billion (compared to $ 2.0 billion), mainly due to the decline in the non-oil trade deficit and the increase in current transfers.
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 bipartisan bill to reform the federal prison system by helping inmates prepare for life after their release and reduce recidivism rates.
Non-petroleum exports hiked 15.9 percent year-on-year in that period to stand at $21.7 billion.
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.
