Remittances from Egyptians working abroad declined by 30.8%, falling to $22.1 billion last fiscal year, compared to $31.9 billion.
Investment income increased by about $2.7 billion to record about $19.5 billion, compared to $16.8 billion, reflecting the increase in interest paid on external debt.
According to the balance of payments report issued for the fiscal year 2022/23, investment income receipts increased by about $1.1 billion to record about $2.1 billion, compared to $996.5 million, as a primary result of the increase in interest collected from abroad on residents’ deposits with banks abroad.
The balance of payments also achieved a total surplus estimated at about $882.4 million during the FY2022/23, compared to a total deficit of about $10.5 billion during the previous fiscal year, according to recent data issued by the Central Bank.
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