CBE: Egypt’s current account deficit widens to $18.4 billion in 2020-21

 The Central Bank of Egypt said in a statement published on Thursday that the current account deficit widened to $18.4 billion in the 2020-21 fiscal year from $11.2 billion in the previous year, as tourism revenues plunged about 50 percent.

 The Central Bank of Egypt said in a statement published on Thursday that the current account deficit widened to $18.4 billion in the 2020-21 fiscal year from $11.2 billion in the previous year, as tourism revenues plunged about 50 percent.

The bank added that tourism revenues fell 50.7 percent to $4.9 billion over the fiscal year as the coronavirus pandemic reduced international travel, down from $9.9 billion in 2019-20.