Egypt's Current Account Deficit To Widen, But Reserves Robust
Country Risk / Egypt / Wed 24 Jul, 2019
Key View
- At Fitch Solutions, we believe Egypt’s current account deficit will widen marginally over the coming quarters, hitting 2.5% of GDP in FY2019/20, from an estimated 2.4% in FY2018/19.
- A widening trade deficit will drag most on the current account, driven by a rise in non-oil imports.
- However, tourism revenue and remittances will keep