Egypt: CBE - Balance of Payment Deficit Hits $ 11.3 Billion

Overall deficit of the Egyptian economy's balance of payment yawned to hit $11.3 billion during fiscal year 2011-1012 against $9.8 billion the previous FY, lowering net reserves of the Central Bank of Egypt (CBE).

The trade balance deficit grew to reach $31.7 billion during FY 2011-2012 against $27.1 billion the previous year, according to a report by CBE.

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