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- The Central Bank of Egypt (CBE) said the balance of payments position (BOP) of the country is in the positive zone, registering a surplus of US$ 311.4 million in the first quarter of the current fiscal year 2021-2022 as against a deficit of US$ 69.2 million in the corresponding period last year.
- The CBE noted that the Egyptian economy was capable of bearing the repercussions of the coronavirus pandemic which cast its shadow on the international economy
The Central Bank of Egypt (CBE) said the balance of payments position (BOP) of the country is in the positive zone, registering a surplus of US$ 311.4 million in the first quarter of the current fiscal year 2021-2022 as against a deficit of US$ 69.2 million in the corresponding period last year.
The CBE noted that the Egyptian economy was capable of bearing the repercussions of the coronavirus pandemic which cast its shadow on the international economy.
The deficit of the non-petroleum trade balance rose to 26.1 percent and stood at US$ 11 billion as against US$ 7.8 billion in the same period last year, whereas tourism revenues witnessed a rise by US$ 2 billion to stand at US$ 2.8 billion.
The net income flow reached US$ 6 billion as against US$ 3.9 billion in the first quarter of last fiscal year. Meanwhile, remittances rose by 1.5 percent to register US$ 8.1 billion. The net foreign direct investments increased by 3.7 percent during the period at US $ 1.66 billion.
