Egypt economy: Investment income deficit posts $14b in 9m – CBE

Egypt’s investment income deficit expanded by four per cent to $14 billion in the July-March period of the 2023/2024 fiscal year, compared to $13.5 billion in the previous year, as per a recent data from the central bank.

This increase was primarily driven by a 2.9 per cent rise in investment income payments to $15.1 billion, largely due to a $2.1 billion increase in interest payments on external debt, reaching $5.6 billion.

While, investment income receipts declined by nine per cent to $1.1 billion, primarily due to a decrease in profit transfers from Egyptian petroleum companies operating abroad and lower interest and dividend income from bonds and securities.

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

Subediting: M. S. Salama