Egypt’s FDI up 36% in Q1 – CBE

Net foreign direct investments (FDI) in Egypt increased by 36% in the first quarter of the fiscal year 2016-2017, according to a recent report by the central bank of Egypt (CBE).

FDI amounted to $1.9 billion in Q1 compared to around $1.4 billion in the same period last year, the report showed.

The increase is attributed to a rise in investments pumped into the oil sector by 221.5% as reached $495.5 million, compared to $154.1 million in the same quarter in the year before.

Foreign direct investments totalled $6.84 billion in FY 2015-2016 up from $6.4 billion in FY 2014-2015.

Source: Mubasher