{"id":186360,"date":"2021-02-02T02:45:52","date_gmt":"2021-02-02T02:45:52","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=186360"},"modified":"2021-02-02T02:45:56","modified_gmt":"2021-02-02T02:45:56","slug":"egypts-current-account-deficit","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/","title":{"rendered":"Egypt\u2019s current account deficit surged to $2.8 billion"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjegfiUl8ruAhUTThUIHWiGA3cQFjAAegQIBhAC&amp;url=https%3A%2F%2Fwww.cbe.org.eg%2Fen%2FPages%2Fdefault.aspx&amp;usg=AOvVaw30WwHNm1w6Us0KCPtHpxOZ\">The Egyptian central bank<\/a> said Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion, compared to $1.4 billion in the same period of 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Current transactions rate in payments balance was better than the quarter the prior quarter of 2020, as it witnessed an improvement of 27.2%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The value of the deficit at $3.8 billion in the April-June quarter of 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Coronavirus pandemic caused investments decline in the field of oil and gas, and the collapse of large sectors, most notably tourism.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Egypt\u2019s current account deficit<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The central bank said the deficit in current transactions increased due to the shock to the tourism sector received, whose revenues reached $0.8 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In comparison, the tourism sector achieved $4.2 billion in revenues in the July-September quarter of 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Ministry of Tourism revealed a significant decrease in the tourism sector revenues in the year 2020 of 70%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net foreign direct investments recorded a decline of 31% year-on-year to $1.6 billion, after net investments in the oil and gas sector shrank to $75.3 million from $744.2 million a year ago.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Last November, central bank data showed that the current account deficit increased by 2.75% to $11.2 billion in the last fiscal year (2019-2020), compared to $10.9 billion a year ago.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The central bank said the numbers come due to unanimous expectations of a strong shock to the current account in most countries of the world, not only in Egypt.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the central bank noted to the noticeable improvement in the non-oil trade balance and the increase in free of charge current transfers has contributed to mitigating this shock to the Egyptian economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Remittances from Egyptian workers abroad increased by 19.6%, to reach $8 billion during the quarter July\/September from 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The central bank indicated that the overall balance recorded a deficit of $69.2 million, compared to a surplus of $227 million a year earlier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Related:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.bnreport.com\/egypts-loan-growth-doubles-its-public-debt\/\">Egypt\u2019s Loan Growth Doubles Its Public Debt<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Egyptian central bank said Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion, compared to $1.4 billion in the same period of 2019. Current transactions rate in payments balance was better than the quarter the prior quarter of 2020, as it witnessed an improvement of 27.2%. The value [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":186361,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[160],"class_list":["post-186360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-egypt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Egypt\u2019s current account deficit surged to $2.8 billion - Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - Finance - Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s current account deficit surged to $2.8 billion - Bnreport\" \/>\n<meta property=\"og:description\" content=\"Bnreport - Finance - Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/\" \/>\n<meta property=\"og:site_name\" content=\"Business News Report\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-02T02:45:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-02T02:45:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/02\/Egypts-current-account-deficit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"674\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"BNR staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BNReport\" \/>\n<meta name=\"twitter:site\" content=\"@BNReport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"BNR staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/\"},\"author\":{\"name\":\"BNR staff\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/58f65d9c9a5003dcc6e2d5774c54062e\"},\"headline\":\"Egypt\u2019s current account deficit surged to $2.8 billion\",\"datePublished\":\"2021-02-02T02:45:52+00:00\",\"dateModified\":\"2021-02-02T02:45:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/\"},\"wordCount\":313,\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/Egypts-current-account-deficit.jpg\",\"keywords\":[\"Egypt\"],\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/\",\"name\":\"Egypt\u2019s current account deficit surged to $2.8 billion - Bnreport\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/Egypts-current-account-deficit.jpg\",\"datePublished\":\"2021-02-02T02:45:52+00:00\",\"dateModified\":\"2021-02-02T02:45:56+00:00\",\"description\":\"Bnreport - Finance - Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/Egypts-current-account-deficit.jpg\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/Egypts-current-account-deficit.jpg\",\"width\":1200,\"height\":674,\"caption\":\"Egypt\u2019s current account deficit\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/egypts-current-account-deficit\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629\",\"item\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt\u2019s current account deficit surged to $2.8 billion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"name\":\"Business News Report\",\"description\":\"Latest News on the World of Politics &amp; Business\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\",\"name\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"width\":200,\"height\":50,\"caption\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Business-NewsReport-328225811095934\\\/\",\"https:\\\/\\\/x.com\\\/BNReport\",\"https:\\\/\\\/www.instagram.com\\\/business.newsreport\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/58f65d9c9a5003dcc6e2d5774c54062e\",\"name\":\"BNR staff\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/author\\\/mnsa\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Egypt\u2019s current account deficit surged to $2.8 billion - Bnreport","description":"Bnreport - Finance - Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/","og_locale":"en_US","og_type":"article","og_title":"Egypt\u2019s current account deficit surged to $2.8 billion - Bnreport","og_description":"Bnreport - Finance - Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion","og_url":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/","og_site_name":"Business News Report","article_publisher":"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","article_published_time":"2021-02-02T02:45:52+00:00","article_modified_time":"2021-02-02T02:45:56+00:00","og_image":[{"width":1200,"height":674,"url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/02\/Egypts-current-account-deficit.jpg","type":"image\/jpeg"}],"author":"BNR staff","twitter_card":"summary_large_image","twitter_creator":"@BNReport","twitter_site":"@BNReport","twitter_misc":{"Written by":"BNR staff","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/#article","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/"},"author":{"name":"BNR staff","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/58f65d9c9a5003dcc6e2d5774c54062e"},"headline":"Egypt\u2019s current account deficit surged to $2.8 billion","datePublished":"2021-02-02T02:45:52+00:00","dateModified":"2021-02-02T02:45:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/"},"wordCount":313,"publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/02\/Egypts-current-account-deficit.jpg","keywords":["Egypt"],"articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/","url":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/","name":"Egypt\u2019s current account deficit surged to $2.8 billion - Bnreport","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/#primaryimage"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/02\/Egypts-current-account-deficit.jpg","datePublished":"2021-02-02T02:45:52+00:00","dateModified":"2021-02-02T02:45:56+00:00","description":"Bnreport - Finance - Egypt\u2019s current account deficit increased during the July-September quarter of 2020, to reach $2.8 billion","breadcrumb":{"@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/#primaryimage","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/02\/Egypts-current-account-deficit.jpg","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2021\/02\/Egypts-current-account-deficit.jpg","width":1200,"height":674,"caption":"Egypt\u2019s current account deficit"},{"@type":"BreadcrumbList","@id":"https:\/\/www.bnreport.com\/en\/egypts-current-account-deficit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629","item":"https:\/\/www.bnreport.com\/en\/"},{"@type":"ListItem","position":2,"name":"Egypt\u2019s current account deficit surged to $2.8 billion"}]},{"@type":"WebSite","@id":"https:\/\/www.bnreport.com\/en\/#website","url":"https:\/\/www.bnreport.com\/en\/","name":"Business News Report","description":"Latest News on the World of Politics &amp; Business","publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bnreport.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bnreport.com\/en\/#organization","name":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a","url":"https:\/\/www.bnreport.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","width":200,"height":50,"caption":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","https:\/\/x.com\/BNReport","https:\/\/www.instagram.com\/business.newsreport"]},{"@type":"Person","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/58f65d9c9a5003dcc6e2d5774c54062e","name":"BNR staff","url":"https:\/\/www.bnreport.com\/en\/author\/mnsa\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/186360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/comments?post=186360"}],"version-history":[{"count":1,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/186360\/revisions"}],"predecessor-version":[{"id":186363,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/186360\/revisions\/186363"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media\/186361"}],"wp:attachment":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media?parent=186360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/categories?post=186360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/tags?post=186360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}