Egypt’s total FDI hit $1.872 billion in Q1-FY2016/17

Egypt’s total foreign direct investments (FDI) rose to around $1.872 billion in the end of first quarter of financial year 2016/2017, latest central bank report showed Wednesday.

During the fourth quarter of financial year 2015/2016, FDI had totalled $1.046 billion.

Foreign direct investments are one of Egypt’s primary sources of foreign currency, along with Suez Canal revenues and the tourism industry.

Investment inflows reached $3.431 billion in the first quarter of financial year 2016/2017, up from $2.930 billion in the fourth quarter of financial year 2015/2016.

On the contrary, outflows dropped to $1.558 billion from $1.883 billion, according to the report.

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