Egypt's Current Account Deficit Doubles to $5.1 Billion in Q1 2026

Egypt's current account deficit widened to $5.1 billion in Q1 2026, more than doubling from $2.3 billion a year earlier, according to central bank data. The gap was driven primarily by a larger merchandise trade deficit, with oil imports climbing to $5.7 billion from $4.8 billion. Remittances rose to $12.8 billion, tourism revenue to $4.2 billion, and Suez Canal receipts to $1 billion, partially offsetting the deterioration. The deficit matters for investors because it pressures Egypt's currency stability and foreign reserves.