Egypt's BOP deficit remains at $13.6 bln in first 9 months of FY 2021/22: CBE

MENA , Thursday 4 Aug 2022

The performance of the balance of payments (BOP) is stable during the nine months from July 2021 to March 2022, the Central Bank of Egypt (CBE) has announced.

The Central Bank of Egypt
The Central Bank of Egypt (CBE) headquarters, Cairo, Egypt. AP

The CBE indicated that BOP's deficit remains at dlrs 13.6 billion, despite the increase in the trade deficit by dlrs 3 billion.

In a statement, the CBE said that the elevated energy prices and supply chain disruptions increased inflation in an unprecedented way.

The CBE also pointed out to the negative repercussions of the Russia-Ukraine crisis.

The non-oil trade deficit widened by 22.5% during the first nine months of the FY 2021-22, to post dlrs 37.7 billion (against dlrs 30.7 billion in the corresponding period the year before), added the statement. 

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