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Egypt Jul-Dec balance of payments in $8 bln deficit - Daily News Egypt

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Egypt Jul-Dec balance of payments in $8 bln deficit

By Reuters CAIRO: Egypt’s central bank said on Sunday the country’s balance of payments swung into a deficit of $8.0 billion in the last half of 2011 from a year earlier surplus of $571.7 million. Egypt’s economy was hammered by last year’s popular uprising, which scared away tourists and investors and triggered a series of worker …


By Reuters

CAIRO: Egypt’s central bank said on Sunday the country’s balance of payments swung into a deficit of $8.0 billion in the last half of 2011 from a year earlier surplus of $571.7 million.

Egypt’s economy was hammered by last year’s popular uprising, which scared away tourists and investors and triggered a series of worker strikes.

The country’s current account deficit for the six months widened to $4.1 billion from a year-earlier deficit of $2.6 billion.

Foreign direct investment dropped to a negative $418.1 million from a positive $2.3 billion a year earlier, the central bank said.

Topics: deficit

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https://www.dailynewsegypt.com/2012/03/25/egypt-jul-dec-balance-of-payments-in-8-bln-deficit/
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