Egypt's central bank said on Saturday it expected its current account deficit in the January to March quarter to double to $3 billion from the July-December 2010 deficit of $1.4 billion due to political turmoil.
Egypt's current account deficit widened 9.2 percent year-on-year to $1.4 billion in July to December 2010 from a current account deficit of $1.3 billion in the same period in 2009, the central bank said.
The central bank said the January to March quarter deficit would widen owing to a fall in tourism revenues, remittances from workers abroad and foreign investment due to fallout from the turmoil that toppled of Hosni Mubarak on February 11.
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