Egypt’s net FDIs surge 29% in Q4: CBE

Big 5

Egypt’s net foreign direct investments (FDIs) surged 29 percent in the fourth quarter of 2016, a recent report by the country’s central bank (CBE) showed on Saturday.

FDIs amounted to $2.415 billion by the end of December 2016, compared to $1.872 billion at the end of September of the same year, according to the central bank report.

Investment inflows reached $3.981 billion in December, while outflows recorded $1.566 billion.

European Union countries topped the list of foreign investors to Egypt during the fourth quarter, recording $2.849 billion, the central bank report added. The United Kingdom’s investments registered $1.791 billion; while Belgian investments reached $523.3 million.

U.S. investments hit $498.8 million at the end of December 2016, the CBE report found.

Moreover, Arab countries’ investments reached $375.5 million; while the rest of the world countries’ investments stood at $257.9 million approximately.

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