Balance Of Payments Surplus Up To $1.5 Bln In 2013/14: Central Bank Of Egypt

Egypt’s central bank announced on Thursday that the balance of payments recorded  a $1.5 billion overall surplus, up from $237 million recorded in the previous fiscal year.

The bank added in a statement that current account deficit narrowed to $2.4 billion, down from $6.4 billion a year earlier which was due to the increase in net unrequited transfers at $ 30.4 billion versus $19.3 billion a year earlier which was supported by the rise in net official transfers from $835.6 million to $11.9 billion.

Source : Arabfinance