Sunday, October 17, 2021

Egypt’s current account deficit widens to US$18.4 billion in 2020-21

CAIRO : Egypt’s current account deficit widened to US$18.4 billion in the financial year 2020-21 from US$11.2 billion in the previous year as tourism revenues plunged more than 50 percent, according to central bank figures released on Thursday.

Tourism revenues dropped by 50.7per cent to US$4.9 billion over the financial year as the coronavirus pandemic sharply reduced international travel, down from US$9.9 billion in 2019-20, the central bank said as it released it latest balance of payments data.

(Reporting by Ahmad Elhamy)

This article originally appeared on the CNA
Source link Author on date 2021-10-14 17:39:35

Trending

More Articles Like This