Egypt’s Q1 FY2015/16 overall BOP deficit hits $3.7 billion

Egypt’s overall balance of payment deficit widened to US$3.7 billion in the first quarter of the financial year 2015/16, compared with a surplus worth US$410 million in the same period a year earlier.

According to Egypt’s central bank Wednesday statement, the current account deficit reached $4 billion, compared with a deficit of $1.6 billion in the same quarter a year earlier.