Account Deficit
The largest surge of inflows, approximately $40.5 billion, was recorded in the second half of the fiscal year, mainly due to the execution of the Ras El Hekma agreement valued at $35 billion
In its latest report on the country’s Balance of Payments (BoP), the Central Bank of Egypt (CBE) highlighted that the overall surplus was largely driven by a substantial performance in the second half of FY2023/2024, where it soared to $10.1 billion
Egypt has been trying to tighten its finances and draw back investors, using economic reforms tied to three-year $12 billion IMF loan programme it began in late 2016.
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