Egypt Says Quarterly Balance of Payments Deficit $2.4 Billion

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.