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FINANCIAL NEWS
Egypt’s recent deficit grows to USD18.7bn
22 Sep 2016
(MENAFN) Egypt’s recent account deficit grew to USD18.7bn for the 2015-2016 fiscal years, from USD12.1bn last year.Additionally, the country’s economy is struggling to recover after a huge uprising in 2011, which drove away tourists and foreign investors.Moreover, the trade deficit for this year hit USD37.6bn compared with a deficit of USD39.1bn last year.Meanwhile, whole exports for the financial year reached USD18.7bn against USD56.3bn in imports.
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