18-January-2025
Economy News
 
Egypt's Current Account Deficit Surges in July-Sept 2024, Central Bank Says
17-Jan-2025

Egypt's current account deficit more than doubled to $5.9 billion in July-September 2024, compared with $2.8 billion in the year-ago quarter, as Suez Canal revenues remain depressed, the central bank said on Thursday. Suez Canal revenues fell 61.2% to $931.2 million in the fiscal first quarter, which began July 1, from $2.4 billion in the year-ago period. The number of ships passing through the canal fell 51% as Red Sea tensions forced several shipping companies to divert their routes, the central bank said.

News Source:- https://money.usnews.com/investing/news/articles/2025-01-16/egypts-current-account-deficit-at-5-9-billion-in-july-sept-2024-central-bank-says