Current Account in Egypt

Egypt Current Account | Economic News & Forecasts

Egypt - Current Account

The economy appeared in good health in the fourth quarter of FY 2019, which ended in June. Government consumption likely continued growing at a robust rate through June on the back of the fiscal year’s budgeted double-digit increase in expenditure. In terms of the non-oil private sector, Q4 appears mixed so far: The PMI edged above the 50-point mark that separates expansion from contraction for the first time in eight months in April, although it fell below it again in May. On the fiscal front, Parliament approved the government’s FY 2020 budget on 24 June. The budget targets a smaller fiscal deficit of 7.2% of GDP and sets spending at EGP 1.6 trillion (USD 94 billion), up from last year’s budgeted EGP 1.4 trillion in spending. The government will also reduce fuel and electricity subsides, in line with the conditions of the IMF’s program. If the plan is realized, FY 2020 will likely see the fiscal deficit fall for the fourth consecutive year.

Egypt - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-2.2  -0.9  -3.6  -6.0  -6.1  

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Egypt Current Account Chart

Egypt Current Account
Note: Current account balance as % of GDP.
Source: Central Agency for Public Mobilization and Statistics and FocusEconomics calculations.

Egypt Facts

Bond Yield15.830.0 %Jul 11
Exchange Rate16.590.0 %Jul 11
Stock Market1,3090.53 %Jul 11

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