Egypt’s BoP records surplus of $281.9M in 9 months
Updated 7/26/2023 8:00:00 AM
Arab Finance: 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, according to a report by the Central Bank of Egypt (CBE) on July 25th.
On the other hand, the current account deficit narrowed by 61.2% to $5.3 billion in the July 2022-March 2023 period from $13.6 billion in the same period a FY earlier, the report showed.
The improvement in the current account deficit was impacted by the 29.8% decline in the trade deficit that reached $23.6 billion.
The capital and financial account registered a net inflow of $8.1 billion in the nine months to March 2023.
Moreover, the net inflows of foreign direct investments (FDI) in the country increased to $7.9 billion in the first nine months of FY 2022/2023.
As per the portfolio investments in Egypt, it realized a net outflow of $3.4 billion in the nine-month period.
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