An economic statement explaining the reasons for Egypt's trade surplus of $ 150.8 million


The Central Bank announced that the balance of the oil trade reached surplus for the first time in more than four years, reaching US $ 150.8 million in the first half of the fiscal year 2018 2019, before a deficit of US $ 2.2 billion in the same of the previous financial year.

The Doctor. Ali al-Idrissi, a professor of economics at the University on Oct. 6, said the main reason for Egypt's trade surplus to exceed $ 150 million is the existence of new discoveries, Egypt's self-sufficiency in gas, and the export of almost 2 billion cubic feet. Self-sufficiency in gasoline and diesel is achieved by 2022-2023.

"The presence of foreign direct investments, the improvement of the public budget and the high rates of economic growth, which should reach 6%, are among the reasons for this percentage, besides the establishment of national projects and the liberalization of the economy. with the institutions and the bank, changes the credit rating and increases the dollar sources.


Source link