The Central Bank of Egypt published balance of payments data for July to March of FY 2024/2025, showing a 22.6% improvement in the current account deficit but an overall balance of payments deficit as capital and financial account inflows fell sharply. The current account deficit narrowed to USD 13.2 billion from USD 17.1 billion in the same period a year earlier, with the improvement mainly concentrated in the third quarter (January to March 2025). Over the same July to March period, the overall balance of payments moved to a USD 1.9 billion deficit from a USD 4.1 billion surplus, largely reflecting net inflows in the capital and financial account of USD 7.7 billion versus USD 20.0 billion previously, when inflows included the USD 15.0 billion Ras El Hekma deal.
Central Bank of Egypt 2025-07-22
Central Bank of Egypt reports narrower current account deficit but balance of payments shifts to USD 1.9 billion deficit on weaker capital inflows
The Central Bank of Egypt reported a 22.6% improvement in the current account deficit for July to March FY 2024/2025, narrowing to USD 13.2 billion. However, the overall balance of payments shifted to a USD 1.9 billion deficit from a USD 4.1 billion surplus, primarily due to a sharp decline in capital and financial account inflows to USD 7.7 billion from USD 20.0 billion, which previously included the USD 15.0 billion Ras El Hekma deal.