Egypt Daily News – A report on the balance of payments issued by the Central Bank revealed that Egypt’s economic transactions with the outside world during the first half of the 2024/2025 fiscal year (July to December 2024) resulted in an overall balance of payments deficit of $502.6 million, compared to a deficit of $409.6 million during the same period of the previous fiscal year.
The current account deficit reached around $11.1 billion, up from about $9.6 billion, due to a 47.4% increase in the trade balance deficit, which reached approximately $27.5 billion. Additionally, the surplus in the services balance declined by 21.2%, amounting to only about $7.2 billion.
This deficit was partially offset by an 81.6% rise in net current transfers, which reached around $17.1 billion, mainly due to an increase in remittances from Egyptians working abroad. The deficit in the investment income balance also narrowed by 17.2%, settling at about $7.9 billion.
On the other hand, capital and financial account transactions recorded a net inflow of about $7.9 billion during the reporting period, compared to approximately $8.4 billion. Foreign direct investment (FDI) in Egypt registered a net inflow of around $60 billion, while portfolio investments in Egypt recorded a net outflow of approximately $3.7 billion.
