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Latest in Tag: surplus


Buoyed by Gulf aid, Egypt current account hits surplus

Reuters –¬†Egypt’s current account recorded a surplus in the first quarter of the financial year, boosted by billions of dollars in aid from Gulf Arab states after the¬†army¬†ousted¬†Islamist¬†President Mohamed Morsi in July. The current account ran a surplus of $757 million between July and September, driven by a massive increase in official transfers, according to …

Daily News Egypt

Egypt current account hits surplus in first quarter

Reuters –¬†Egypt’s current account recorded a surplus of $757 million between July and September, compared with a deficit of $1.26 billion in the same period last year, the central bank said on Thursday. Foreign direct investment in¬†Egypt¬†rose to $1.246 billion in the same period compared with $1.164 billion a year earlier.

Daily News Egypt

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