Egypt’s net FDI hikes to $1.7 billion in Q2-FY2015/16

Egypt’s net foreign direct investments (FDI) surged in the second quarter of the financial year 2015/16 to stand at $1.718 billion, from $1.353 billion.

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

According to the central bank’s latest bulletin, Egypt’s FDI recorded a net inflow of $3.156 billion in Q2 in FY2015/16, against $2.90 billion in Q1.

Net outflow had totalled around $1.437 billion, from $1.547 billion in previous quarter, the bulletin showed.