Egypt: CBE - Balance of Payment Surplus Hits Dlrs 1.5 Bn in First Half of 2020-2021 Fy

The Central Bank of Egypt (CBE) said the balance of payment with regard to the country's foreign transactions hit a surplus of dlrs 1.5 billion in the first half of the 2020-2021 fiscal year against a total deficit of dlrs 9 billion in the corresponding period of the same fiscal year.

In a statement on Monday, the bank said the deficit of the current account balance increased to dlrs 7.6 billion in the first half of the 2020-2021 fiscal year against dlrs 4.6 billion in the corresponding period last year.

The bank detailed that the deficit of the non-petroleum trade balance went up by dlrs 1.2 billion to register about dlrs 19.1 billion.

The bank added that the current transfers ratcheted up by dlrs 13.5 percent to record about dlrs 15.5 billion against dlrs 13.7 billion a year earlier.

The petroleum trade balance registered a deficit of dlrs 54.5 million in the first half of the 2020-2021 FY against a surplus of dlrs 733.3 million in the same period of the previous year as a result of a drop in the petroleum exports.

The investment income dropped by dlrs 347.8 million to register dlrs 5.4 billion, the statement said, adding that the net foreign direct investments flow to Egypt went up by some dlrs 3.9 billion to register dlrs 9.2 billion.

More From: Egypt Online

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