A recent report issued by the Egyptian Statistics Authority showed that the deficit in the balance of goods and services declined by 1.1 billion dollars during the third quarter of the last fiscal year 2017/2018 reaching 6.7 billion dollars from 7.8 billion dollars y.o.y.
According to the same source, indicators from the external sector showed that Net Foreign Direct Investment amounted to 2.3 billion dollars in the third quarter of the fiscal year 2017/2018 (January-March 2018), mostly from the European Union countries.
In the report, the Egyptian Statistics Authority also revealed that the ratio of the budget deficit to GDP dropped to 0.8 billion dollars (80 million dollars) during the third quarter of the last fiscal year 2017/2018, compared to 1.3 billion dollars in the previous year.
Source: (Youm7 website, Edited)
