Egyptian imports from EU fall to $3.9 bln in Q4-FY2016/17

Egypt’s imports from the European Union decreased at the end of the fourth quarter of last financial year to reach $3.9 billion, compared to $4.3 billion during the same period of financial year 2015/2016.

Egyptian Central Bank’s latest report showed that the imports of the last quarter of financial year 2016/2017 decreased by $400 million.

A banking source said to “youm7” that the Egyptian central bank, in co-operation with other banks and economic organizations, aim to rationalise use of dollars to be aimed at importing strartegic and basic commodities, medicines, and raw materials.