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Saturday, 12 June 2021

Egypt’s payments balance fell by 19.9%: CBE

Doaa A.Moneim , Thursday 26 Dec 2019

The Central Bank of Egypt (CBE) announced on Thursday that the country's balance of payments recorded a total surplus of $227.3 billion during the first quarter of FY2019/2020, down from $284.1 billion in the same quarter of FY2018/2019 with a drop of 19.9 percent.

CBE also unveiled that the current account deficit has declined to $1.4 billion in the same quarter compared to $2 billion in Q1 of FY2018/2019, clarifying that it is arising from balance of payment declining and transactions increase.

According to CBE, the balance of financial and capital transactions recorded a total flow of $657.9 million by end of September, down from $1.8 billion in the same period of 2018.

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