Telecom Egypt expects to fully repay its debts within the next four to five years

The Central Bank of Egypt (CBE) has withdrawn EGP 992.45 billion in excess liquidity from banks through the fixed-rate auction held on November 5th.

The Central Bank of Egypt (CBE) has withdrawn EGP 1.073 trillion of excess liquidity at banks in the first fixed-rate auction after Eid El-Adha holiday on June 25th.

The Central Bank of Egypt (CBE) has withdrawn EGP 460.8 billion of surplus liquidity at banks during the weekly auction that took place on April 23rd, with a return of 27.75%.

Goldman Sachs projects a surplus of $26.5 billion in external financing to Egypt over the next four years, versus previous expectations of a deficit of $13 billion.

Egypt’s balance of payment (BoP) saw an overall surplus of $882.4 million during the fiscal year (FY) 2022/2023, according to a report by the Central Bank of Egypt (CBE).

Egypt’s balance of payment (BoP) saw an overall surplus of $281.9 million during the first nine months of fiscal year (FY) 2022/2023.

Egypt has recorded a primary surplus of EGP 164.3 billion, equivalent to 1.7% of the gross domestic product (GDP), as per the initial indicators of the financial performance for fiscal year (FY) 2022/2023.

Egypt is planning to boost its petroleum exports by 15% in 2023 to around $21 billion.

The Egyptian Cabinet has discussed proposals to maintain positive indicators regarding balance of payments (BoP) position in the short and long terms

The improvement in the current account deficit was impacted by the 28.4% decline in the trade deficit that reached $15.5 billion.

The company’s board has endorsed the estimated budget for FY 2023/2024, targeting a profit after tax of EGP 17.237 million.