Bloomberg News

Egypt Says Quarterly Balance of Payments Deficit $2.4 Billion

December 20, 2011

Dec. 20 (Bloomberg) -- Egypt’s balance of payments in the first quarter of the fiscal year which started in July recorded a $2.4 billion deficit compared with a surplus of $14.7 million in the same period a year earlier, Egypt’s state-run Middle East News Agency said, citing the central bank.

Foreign direct investment fell during the quarter to $440.1 million from $1.6 billion, MENA said.

--Editors: Digby Lidstone, Louis Meixler.

To contact the reporter on this story: Mariam Fam in Cairo at mfam1@bloomberg.net

To contact the editor responsible for this story: Mahmoud Kassem at mkassem1@bloomberg.net


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