Current Account in Egypt

Egypt Current Account | Economic News & Forecasts

Egypt - Current Account

The 2020 fiscal year, which started in July, began on a positive note. The non-oil private sector PMI crossed into expansionary territory in July for the first time in three months, boosted by an increase in output, which was itself buoyed by increased new orders from abroad. Moreover, Egypt received the last IMF tranche on 5 August, amounting to USD 2 billion as part of the now-ending three-year USD 12 billion support program. On the other hand, a 5 August terror attack in Cairo that killed dozens of people shook the tourism sector. This all comes after annual GDP growth accelerated in Q4 FY 2019, likely supported by strong fixed investment, thanks to the government’s infrastructure drive, and healthy private consumption, as the unemployment rate dropped to an over one-decade low in the quarter. Meanwhile, the fiscal deficit as a percentage of GDP dropped by over one percentage-point in the first 11 months of FY 2019.

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 Yield14.500.0 %Sep 04
Exchange Rate16.520.0 %Sep 04
Stock Market1,3760.53 %Sep 04

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