Egypt’s Beltone eyes $11bn revenues from tourism in 2019

Beltone Financial, the Egyptian investment bank owned by billionaire Naguib Sawiris, expects revenues from Egyptian tourism would hit $11 billion within the next year.

The Egyptian economic performance is very promising, it added in an annual report on the Egyptian economy released on Wednesday.

Beltone Financial, a major investment bank in the Middle East and North Africa, added in its report that saving 32 billion pounds from fuel subsidies will provide enough funding in the general budget.

It expected that Egypt’s economic growth rate would reach 5.5 percent in 2018/2019 financial year and a stable exchange rate for the pound.

Source: MENA