Egypt’s current account deficit at $8.38 billion in first nine months

Egypt’s current account deficit stood at US$8.38 billion in the nine months through March 2015, compared with a deficit of $543.1 million in the same period the previous fiscal year, the central bank said on Sunday.

Arabian Gulf countries have given or pledged to Egypt about $35bn in aid in the form of oil shipments, cash grants and deposits in Egypt’s central bank since former army chief Abdel Fattah El-Sisi deposed former president Mohammed Morsi after mass protests last July.

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