Egyptian Finance Minister Mohamed Maait expected the debt to fall below 90 percent of GDP by the end of the current fiscal year. While he revealed that the total Egyptian exports during the past year 2021 reached 45.2 billion dollars.
The Central Bank of Egypt revealed that Egypt’s current account deficit rose to four billion dollars in the period from July to September 2021, compared to 2.8 billion dollars during the same quarter a year ago, in light of the high non-oil trade deficit of 26.1 percent.
According to the bank, the cost of non-oil imports rose to $16.9 billion, mainly due to pharmaceuticals, including vaccines, in addition to soybeans, propylene polymers, cast iron and wheat.
Tourism revenues rose strongly to 2.84 billion dollars from 801 million dollars in the period from July to September 2021, as the sector continues to recover from the consequences of travel restrictions to combat “Covid-19”, revenue increased to $1.75 billion from April to June 2021.
Source (Al-Sharq al-Awsat Newspaper, Edited)
