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Egypt's BoP records $410.9m surplus in H1-19/20

Egypt's BoP records $410.9m surplus in H1-19/20
The current accounts’ deficit shrank by $684.4 million

Cairo – Mubasher: Egypt’s balance of payments (BoP) achieved an overall surplus of $410.9 million during the first half of fiscal year 2019/2020, compared to an overall deficit of $1.8 billion in the yea-ago period, official data showed.

The current accounts’ deficit shrank by $684.4 million or 13% to $4.6 billion in H1 of FY19/20, compared to $5.3 billion in the corresponding period a year earlier, according to data released by the Central Bank of Egypt (CBE) on Monday.

The drop in the current accounts’ deficit was ascribed to the lower deficit of the non-oil BoP.