Egypt's current account deficit narrows in Q4 of 2019 - News Summed Up

Egypt's current account deficit narrows in Q4 of 2019


CAIRO — Egypt’s current account deficit for the last quarter of 2019 narrowed to $3.19 billion from $3.25 billion in the same quarter of 2018, according to central bank data released on Monday. Remittances from Egyptians working abroad increased to $6.97 billion from $6.14 billion, while tourism revenue climbed to $3.06 billion from $2.86 billion. Reuters calculated the figures by subtracting third quarter figures released earlier by the central bank from those for the last half of the calendar year. Suez Canal revenue rose to $1.52 billion during the fourth quarter of 2019 from $1.49 billion a year earlier. The trade deficit rose to $9.92 billion from $9.44 billion.


Source: Egypt Today March 30, 2020 15:22 UTC



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