IMF Forecasts Consecutive Drop in Egypt’s Current Account Balance in 2020 and 2021

A 4.3 percent drop is expected in Egypt’s current account balance for 2020, followed by a 4.5 percent fall in 2021, as per projections made by the International Monetary Fund (IMF).

A key indicator of a country’s economic status, the current account balance is defined as the sum of the balance of trade (goods and services exports minus imports), net income from overseas, and net current transfers.

Furthermore, the IMF forecasts a 7.7 percent drop in Egypt’s fiscal balance, over 2020. Year-on-year Inflation is expected to be 4.9 percent during 2020 and is projected to increase to a year-on-year rate of 7.2 percent in 2021.

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