CBE: Egypt Records $2 bn Surplus in Payments’ BalanceSource: www.export-egypt.com 4/1/2014, Location: Africa |
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Egypt's balance of payments registered an overall surplus of 2 billion dollars during 2013/2014, a significant improvement compared to the 551.5 million dollars deficit in the same period last year, according to an statement by the Central Bank of Egypt (CBE).
The current account declined to 755.8 million dollars against a deficit of 4.9 billion dollars, the CBE added. The trade balance deficit, meanwhile, surged by 16.8 per cent to reach about 15.4 billion dollars, according to the CBE |
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