Cairo – Mubasher: Egypt's total surplus of the payment balance fell slightly to $10.96 billion in the first nine months of fiscal year 2017/2018, versus $10.98 billion in the prior-year period, data by the Central Bank of Egypt (CBE) showed.
The services balance surplus surged by 138.2% to $7.8 billion during the July-March period of FY17/18 from $3.3 billion in the same period a year earlier, the CBE added in a statement on Thursday.
It is worth noting that Egypt aims to achieve an economic growth of up to 5.8% in the next fiscal year.
The CBE also posted that the current account deficit retreated by around 57.5% year-on-year, or $7.2 billion, in the first nine months of fiscal year 2017/2018.
The CBE previously posted a 63.83% year-on-year decline in current transactions’ balance in the first half of FY17/18.
