FILE PHOTO: A container ship is seen beside cranes at the Suez canal near Ismailia port city, northeast of Cairo, Egypt March 5, 2021. REUTERS/Mohamed Abd El Ghany

15 Oct 2021 01:39AM
(Updated: 15 Oct 2021 01:35AM)

CAIRO : Egypt’s current account deficit widened to US$18.4 billion in the financial year 2020-21 from US$11.2 billion in the previous year as tourism revenues plunged more than 50 percent, according to central bank figures released on Thursday.

Tourism revenues dropped by 50.7per cent to US$4.9 billion over the financial year as the coronavirus pandemic sharply reduced international travel, down from US$9.9 billion in 2019-20, the central bank said as it released it latest balance of payments data.

(Reporting by Ahmad Elhamy)

Source: Reuters

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