Trade deficit narrows by USD7bn since January, devaluation would boost exports by 10%, Trade Minister said
Egypt's imports dropped by USD6bn while exports increased by USD1bn since January, narrowing the trade gap by USD7bn, Trade and Industry Minister Tarek Kabil said during the Euro-money Conference on Tuesday. Exports could rise by 10% - helping close the trade gap even more - if authorities devalued the EGP, he added. The latest official data release indicates a trade deficit of cEGP173bn (USD19.5bn) during January-June 2016, down 11.3% Y-o-Y. (Reuters)
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