Cairo – Mubasher: Egypt’s balance of payments (BoP) registered an overall surplus of $227.3 million during the first quarter of fiscal year 2019/2020, down by 19.9% year-on-year from $284.1 million.
Meanwhile, the North African nation’s current account deficit contracted by $629.8 million to $1.4 billion in the July-September period, compared to $2.012 billion in the corresponding period a year earlier, data released by the Central Bank of Egypt (CBE) showed on Wednesday.
The decline in the country’s current account deficit was attributed to a drop in the non-oil trade deficit and a growth in current transfers.
