Arab Finance: 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) on October 4^th.

On the other hand, the current account deficit narrowed by 71.5% to $4.7 billion last FY from $16.6 billion in the previous FY, the report showed.

The improvement in the current account deficit was affected by the 28.2% decline in the trade deficit that reached $31.2 billion.

The capital and financial account registered a net inflow of $8.9 billion in FY 2022/2023.

Meanwhile, the net inflows of foreign direct investments (FDI) in the country increased by 12.3% year on year (YoY) to $10 billion.

As per the securities investments portfolio in Egypt, it realized a net outflow of $3.8 billion in the elapsed FY.

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