Egypt's balance of payments swung into a deficit of $6.1 billion in the first quarter as revenue from tourism and foreign investment were hit by political turmoil in Egypt and the region, the central bank said on Monday.
The popular uprising that ousted President Hosni Mubarak from power in February scared off tourists and investors, two of Egypt's main sources of foreign exchange.
The balance was "affected by the repercussions of the events Egypt and the Arabic region are passing through, which have negatively affected revenue from tourism and foreign investments," the central bank said in an emailed statement.
No comments:
Post a Comment