Egypt’s current account deficit shrank to $3.8 billion in the October-December quarter from $4.85 billion a year earlier, thanks to a surge in tourism, according to balance of payments numbers issued on Thursday by the central bank.
The numbers also revealed a dramatic outflow of portfolio investment, which fell to a $6.1 billion deficit from a $3.5 billion surplus a year earlier.
From $10.5 billion, the trade imbalance increased to $10.7 billion.
Egypt’s current account deficit shrank to $3.8 billion in the October-December quarter from $4.85 billion a year earlier, thanks to a surge in tourism, according to balance of payments numbers issued on Thursday by the central bank.
The numbers also revealed a dramatic outflow of portfolio investment, which fell to a $6.1 billion deficit from a $3.5 billion surplus a year earlier.
From $10.5 billion, the trade imbalance increased to $10.7 billion.
