Egypt's balance of payments surplus hits $1.9bn in Q1 of 2016/7
Central Bank of Egypt (CBE)
Cairo - MENA
Egypt's balance of payments recorded an overall surplus of some USD 1.9 billion during the first quarter of 2016/2017, against USD 3.7 billion in deficit the previous year, the Central Bank of Egypt (CBE) said in a statement.
The capital and financial account resulted in a net inflow of around USD 7.1 billion, compared to some USD 1.6 billion.
The current account deficit improved, registering only some USD 8.7 billion against some USD 10 billion.
The improvement in the current account deficit is mainly traceable to the increase in commodity exports and the decrease in commodity imports.
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