Egypt’s BoP registers surplus of $1.9 billion in Q1 2016/17: CBE

CBE30/12/2016 (Ahram Online – Egypt): Egypt’s overall balance of payments (BoP) registered a surplus of $1.9 billion in the first quarter of the current 2016/17 fiscal year, an improvement on the deficit of $3.7 billion in the same period the year before, the Central Bank of Egypt (CBE) said in a statement on Thursday. The CBE has attributed the overall surplus to the performance of the capital and financial account, which saw a surge in net inflow to reach $7.1 billion, as opposed to $1.6 billion in the same period the previous year, the statement said. The current account deficit dropped by 13.4 percent from July to September 2016 to record $8.7 billion from $10 billion in the same period last year, due to a rise in commodity exports and a slump in import payments…

http://english.ahram.org.eg/NewsContent/3/12/254141/Business/Economy/Egypts-BoP-registers-surplus-of–billion-in-Q–CBE.aspx

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