Current Account Deficit
The current account deficit narrowed by $ 629.8 million to $ 1.4 billion (compared to $ 2.0 billion), mainly due to the decline in the non-oil trade deficit and the increase in current transfers.
The central bank attributed the drop in the deficit to the impact of currency liberalisation. Egypt let its pound float in late 2016 as part of an IMF-backed economic reform programme.
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