Egypt’s foreign exchange receipts decline 24% YoY in FY2022/23

Foreign exchange payments dropped by 27% YoY in FY 2022/2023, hitting $135 billion, versus $185.3 billion

Staff Writer, Arab Finance

March 27, 2024

PHOTO

Egypt’s foreign receipts plunged by 24% year on year (YoY) to $121.9 billion in fiscal year (FY) 2022/2023 from $160.5 billion, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

This decrease was driven by government receipts which fell to $2.4 billion.

Foreign exchange payments dropped by 27% YoY in FY 2022/2023, hitting $135 billion, versus $185.3 billion.

This came as a result of portfolio investments declining to $7.6 billion in FY 2022/2023 from $32.2 billion in FY 2021/2022.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO