Egypt Jul-Mar balance of payments $11.2 bln deficit
Egypt's balance of payments slid deeper into the red in the first nine months of 2011-2012 with a deficit of $11.2 billion compared to a shortfall of $5.5 billion a year earlier, as political turmoil hit investment and tourism, figures showed.
The countrys economy has been hammered by unrest in the wake of the uprising that toppled Hosni Mubarak in February 2011. Tourism and investment, two of Egypts sources of foreign currency, have been among the hardest hit.
The current-account deficit widened to $6.4 billion for the nine-month period from July-March 2011-12, from $4.7 billion in the same period a year earlier, according to central bank figures obtained by Reuters. The state news agency also published some of the main numbers but not a full breakdown.
Egypt's financial year begins on July 1.
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