Wednesday 08/October/2025 – 12:23 AM
The Central Bank of Egypt said that the country’s current account deficit fell to 2.2 billion dollars in the period from April to June 2025, compared to 3.7 billion pounds in the same period of the previous year.
The Central Bank attributed this slight deficit in the fiscal year 2024-2025 to an increase in financial transfers from Egyptians working abroad and an increase in tourism revenues.
Revenues from the Suez Canal, a major source of hard currency, rose to one billion dollars in this quarter from 800 million, and this increase is considered marginal with the continued attacks by the Yemeni Houthi group allied with Iran on ships in the Red Sea, which led to the disruption of navigation through the vital waterway.
Value of oil exports
The value of oil exports increased slightly to $1.4 billion from $1.1 billion in the previous year, while the value of imported petroleum products rose to $500 million from $400 million.
Egypt has increased its imports of fuel oil and liquefied natural gas this year to meet electricity demand after interruptions in gas supplies caused power outages over the past two years.
Foreign direct investment
At the same time, foreign direct investment decreased to $2.4 billion from $22.4 billion in the previous year, and the bank indicated that foreign direct investment rose last year due to exceptional inflows amounting to about $35 billion as part of the implementation of the Ras El Hekma deal.
The Central Bank said that tourism revenues in Egypt amounted to $4.2 billion in the last quarter of the 2024-2025 fiscal year, compared to $3.5 billion in the previous year.
The Ministry of Tourism says that the tourism sector has recovered strongly from the impact of the Covid-19 pandemic, with the number of visitors reaching 15.7 million in 2024.
Remittances from Egyptians working abroad, another major source of hard currency, increased to $10.1 billion from $7.4 billion.
