Press Release Balance of Payments Performance during the First Half of FY 2023-2024
During H1 (July/December 2023) of FY 2023/2024, transactions of the Egyptian economy with the external world resulted in an overall BOP deficit of US$409.6 million (against an overall surplus of US$ 599.1 million in the corresponding period a year earlier). The current account* deficit posted US$ 9.6 billion (againstUS$ 1.8 billion), driven by the rise in the trade deficit by 20.0 percent to registerUS$ 18.7 billion, and by the decline in net unrequited current transfers by 20.2percent to record US$ 9.4 billion, in addition to the retreat in services balance surplus by 15.7 percent to reach only US$ 9.2 billion. On the other hand, the capital and financial account recorded a net inflow of US$ 8.4 billion (compared with US$ 2.8 billion), with foreign direct investment in Egypt registering a net inflow of US$ 5.5billion, and portfolio investment in Egypt achieving a net inflow of US$ 252.8million (against a net outflow of US$ 3.0 billion).
To download the full press release, Click here
First, please LoginComment After ~