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Impact of COVID-19 on projected current account balance in Egypt 2020-2021

The coronavirus (COVID-19) pandemic is expected to worsen the situation for the Egypt net exports. Before the occurrence of the pandemic, the estimates where showing a deficit of 1.8 and 1.2 percent of GDP in 2020 and 2021, respectively. However, in the worst scenario, when the coronavirus crisis would continue until December 2020, the current account balance is believed to be 7.1 percent of GDP in 2020 and 7.2 percent of GDP in 2021.

Impact of coronavirus (COVID-19) on projected current account balance in Egypt in 2020 and 2021

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Source

Release date

June 2020

Region

Egypt

Survey time period

June 2020

Supplementary notes

Assumptions:

1) Baseline scenario: pandemic subsides in July 2020
2) Worst scenario: pandemic continues to December

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