Egypt’s Balance of Payments Performance in Q3 2018/19
Published: 8th August 2019
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According to the Central Bank of Egypt (CBE), Egypt’s Balance of Payments’ overall balance contracted significantly during the first nine months of FY 2018/19 (July-March 2018/19) to record a net outflow (deficit) of USD 0.4 bn; compared to a net inflow (surplus) of USD 11.0 bn in the same period a year earlier (July-March 2017/18). Such deterioration was mainly brought about by a 59.3%1 decline in the Capital and Financial Account which recorded an inflow of USD 7.8 bn, compared to a much higher inflow of USD 19.0 bn a year earlier (mainly on the back of dwindling net portfolio investments). The Current Account deficit, as well, widened by 39.1% to record USD 7.6 bn up from USD 5.5 bn a year earlier.
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