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.