Egypt: Foreign Exchange Earnings Declined by 24 Percent Last Fiscal Year

  • Cairo, Arab Republic of Egypt
  • 27 March 2024
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Foreign exchange receipts in Egypt fell 24 percent to $121.9 billion in the 2022-2023 fiscal year, as a result of a decrease in government receipts of $2.4 billion.

According to the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt's total foreign exchange payments reached $ 135 billion in the last fiscal year compared to $ 185.3 billion in the fiscal year 2021-2022, a decrease of 27.1 percent, due to the decrease in payments on the financial account to reach $ 7.6 billion compared to $ 32.3 billion in the previous fiscal year.

Source (Al-Sharq Al-Awsat Newspaper, Edited)

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