Egypt’s foreign exchange receipts decline 24% YoY in FY2022/23

Foreign exchange payments dropped by 27% YoY in FY 2022/2023, hitting $135 billion, versus $185.3 billion

Staff Writer, Arab Finance

March 27, 2024

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Egypt’s foreign receipts plunged by 24% year on year (YoY) to $121.9 billion in fiscal year (FY) 2022/2023 from $160.5 billion, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

This decrease was driven by government receipts which fell to $2.4 billion.

Foreign exchange payments dropped by 27% YoY in FY 2022/2023, hitting $135 billion, versus $185.3 billion.

This came as a result of portfolio investments declining to $7.6 billion in FY 2022/2023 from $32.2 billion in FY 2021/2022.

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