Egypt Balance Of Payments Gap Widens To $11.3 Bln

Egypt’s balance of payments deficit widened to $11.3 billion in the financial year to June from $9.8 billion in the previous year, preliminary figures from the central bank showed on Monday.

The country saw an exodus of foreign investors after a popular uprising ousted its president in February 2011 and income from tourism slumped.

Egypt’s current account deficit grew to $7.9 billion from $6.1 billion, the central bank’s figures showed, while the trade deficit swelled to $31.7 billion from $27.1 billion.

Reuters