Egypt economy: BoP surplus hits $4.1b in July-March of FY 23/24

By Nada Ali On Aug 21, 2024

Egypt Central Bank of Egypt's — The Central Bank of Egypt's (CBE) headquarters in the new administrative capital (CBE Photo)

Egypt unfolded an increase in the overall balance of payments (BoP) surplus, reaching $4.1 billion in the July-March of the 2023/2024 fiscal year, recent central bank data showed. This marks a significant improvement compared with a $281.9 million BoP surplus recorded in the same period of the previous fiscal year.

This improvement was primarily driven by a substantial net inflow of $20.0 billion in the capital and financial account, compared to $8.1 billion in the previous year. The current account deficit, however, widened to $17.1 billion from $5.3 billion.

Attribution: CBE’s External Position of the Egyptian Economy report

Subediting: M. S. Salama

Download

Subediting: Y.Yasser

Balance Of Payments CBE Central Bank of Egypt (CBE)Egypt Egypt's Balance of Payments Egypt's BoP surplus Egypt's central bank External Position of the Egyptian Economy report