26 Sep 2014
(MENAFN) Egypt’s current account deficit dropped to USD2.4 billion in the 2013-14 fiscal year compared to USD6.4 billion the previous year, aided by billions of dollars given by Gulf Arab donors, Gulf Daily News reported.
The improvement in the current account deficit was also driven by a rise in net official transfers, which increased by more than tenfold to reach USD11.9 billion in the fiscal year that ended in June compared with USD835.6 million in the previous fiscal year.
However, during the fourth quarter of the fiscal year from April till June, Egypt posted a current account deficit of USD2.123 billion, while official transfers reached USD1.4 billion in the April-June period, compared with USD4.5 billion in the third quarter.
A sharp decline in tourism revenues prevented these improvements from being better, after dropping 48 per cent to USD5.1 billion compared with USD9.8 billion last year.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more