Sisi meets Amer to review economy’s performance

President Abdel Fatah al-Sisi met on Sunday with Governor of Egypt’s Central Bank Tarek Amer, according to an official statement issued by the presidency spokesperson.

The president reviewed with Amer the current economic situation and the developments in the currency exchange rate.

On his part, Amer discussed with President Sisi the advanced results achieved in the Egyptian economy’s performance during the first quarter (Q1) of fiscal year 2017/18.
The Central Bank of Egypt issued a statement earlier in December, noting that Egypt’s balance of payments recorded a surplus of $5.1 billion during the first quarter of 2017/18. This is an improvement from a surplus of $1.9 billion in the same period of the previous fiscal year.

This came on the back of a significant improvement in Egypt’s current account deficit, which narrowed 65.7 percent to $1.6 billion in Q1 of FY 2017/18 from a deficit of $4.8 billion during the same period a year earlier.