Central Bank of Egypt announced for achieving overall balance of payments surplus amounted to about $ 237 million compared to a deficit of 3.11 billion dollars during the fiscal year 2012 / 2013.
The Central Bank - said in a statement on Tuesday got the Middle East News Agency , a copy of it - to lower the current account deficit by 45 percent to hit about 6.5 billion versus $ 1.1 billion dollars, a reference back to the lower trade deficit rate of 6.7 percent to reach about 5.31 billion dollars during the fiscal year 2012/2013 , compared to about 1.34 billion dollars during the previous fiscal year as a consequence of the high export earnings commodity rate of 6.3 percent to a record of about 26 billion dollars compared to 1.25 billion dollars, while decreased payments for imports of goods rate of 9.2 percent to record about 5.57 billion dollars against 2.59 billion dollars.
He pointed to the high surplus service rate of 8.19 per cent , to reach about 7.6 billion dollars during the fiscal year 2012/2013 , compared to 6.5 billion dollars, a reflection of the high Proceeds transport services an average of 7 percent , due to higher proceeds from shipping companies and aviation Egyptian , although decline in receipts through the Suez Canal rate of 4.3 percent, limited to about 5 billion dollars against 2.5 billion dollars during the comparison year , rising tourism revenues at 5.3 percent rise in the number of tourist nights a rate of 1.8 percent, to reach 4.142 million a night compared to 8.131 million for the night.
He added that investment income payments dropped by 6.11 percent , due to the drop in remittances from profits of foreign companies operating in Egypt and remittances from interest and dividends on bonds and securities.
He pointed to the rise in net unrequited transfers to $ 3.19 billion versus $ 4.18 billion dollars, a rise in net private transfers - mainly remittances from Egyptians working abroad , which rose by 1.697 million dollars to reach about 7.18 billion dollars against 18 billion dollars.
He added that the capital and financial account resulted in the fiscal year 2012/2013 for achieving a significant increase in the net inflow to reach about 7.9 billion dollars , compared with about one billion dollars As a result of turning item investment portfolio securities in Egypt to achieve a net intervention within amounted to 5.1 billion dollars, compared Net outflow of $ 5 billion during the comparison period , and the Egyptian government to issue bonds worth 5.2 billion dollars.
He noted the Central Bank to increase net obligations of the Central Bank of Egypt with the outside world during the 2012 / 2013 to about 5.6 billion dollars against 2.1 billion dollars during the previous fiscal year to the high deposits transferred from some Arab countries.
He pointed to the decline in net inflow in the item of foreign direct investment in Egypt at about one billion dollars almost up to $ 3 billion , compared to $ 4 billion during the previous fiscal year for him, as a result of the decline proceeds of sale of companies and assets productivity for non-residents to be limited to 7.281 million versus $ 678.1 billion during the previous fiscal year to him, and in spite of the high net inflow for the item inward investment to establish companies or increase their capital to about 4.2 billion dollars against 1.2 billion dollars during the previous fiscal year, a high net inflow of investments in the oil sector to 5.255 million compared to $ 130 million.
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