The Central Bank of Egypt revealed that the investment income balance deficit had risen to about $7.1 billion. For about $5.4 billion, This is as a result of an increase in investment income payments by $2 billion to record about $7.6 billion
He explained that this was a reflection of the high profits achieved on foreign direct investment in Egypt. As well as the interests and dividends paid on non-residents’ investments in Egyptian bonds and securities.
He noted that the proceeds of investment income increased by $371.4 million to $494.5 million. This is due to the high interest and dividends collected on foreign bonds and securities.
The CBE pointed to the positive factors that led to limiting the increase in the current account deficit. Which is represented by the transformation of the petroleum trade balance from a deficit of 54.2 million dollars to a surplus of 2.1 billion dollars, As a main result of the increase in the value of natural gas exports by about $2.6 billion, to increase the exported quantities of it, In addition to the noticeable rise in world prices, which also led to an increase in the value of crude oil exports and imports, despite the decrease in its quantities. This improvement was limited by the increase in the value of payments for imports of petroleum products due to the increase in the quantities received.
