Egypt’s current account deficit widened to $7.6 billion in July-December 2020 from $4.6 billion a year earlier, the central bank said on Monday.
Remittances from Egyptian workers abroad rose to $15.5 billion from $13.7 billion a year earlier, while tourism revenues dropped to $1.7 billion from $7.25 billion in the same period in 2019.
Early last month, Bloomberg had reported that Egypt’s headline inflation accelerated at its fastest pace since December but remained below the target range, making rising global bond yields a more important factor in the coming rate decision.
The annual inflation rate climbed to 4.5 percent in February from 4.3 percent in January after two consecutive months of deceleration. On a monthly basis, consumer prices inched up 0.2 percent, the state-run statistics agency CAPMAS had said in a report.
Egypt, Lebanon announce Ramadan to start TuesdayThe Muslim holy fasting month of Ramadan will begin on Tuesday April 13 in Egypt and Lebanon, religious authorities in the two countries announced ... Middle East
Russia’s FM in Egypt for talks on trade and Ethiopia’s damThe foreign ministers of Egypt and Russia discussed trade and other ties between the two nations Monday, with Egypt’s top diplomat urging Moscow to ... Middle East
Egypt still in talks about Suez ship Ever Given’s rescue compensationEgypt is still in talks about compensation stemming from the operations to free the giant container ship whose stranding in the Suez Canal for nearly ... Economy