Egypt’s Trade Deficit Surges 50% to $22.6 Billion in First Half

Egypt’s commodity trade deficit has expanded by fifty percent during the first half of the year, reaching $22.6 billion, according to official data from the Ministry of Investment and Foreign Trade. The sharp increase highlights growing economic pressures as imports outpace exports significantly. Economist Ahmed Kamel noted the widening gap could strain foreign reserves and fuel inflation, raising concerns over the country’s fiscal health. The Ministry’s ledgers confirm the negative gap has worsened dramatically, prompting calls for policy measures to boost exports and curb imports.

Article source: egyptdailynews.com | Image credit: Reuters