Net FDI amounts to $1.9B in Q2 of 2017/2018

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Sun, 03 Jun 2018 - 01:32 GMT

BY

Sun, 03 Jun 2018 - 01:32 GMT

FILE - CBE

FILE - CBE

CAIRO - 3 June 2018: Central Bank of Egypt (CBE) said in its monthly report that net volume of Foreign Direct Investment (FDI) amounted to $1.9 billion in the second quarter of fiscal year 2017/2018, compared to $2.4 billion in the corresponding quarter of fiscal 2016/2017, a decline of 20.8%.

The total internal inflows reached $3.4 billion compared to $3.9 billion during the same period of last year, while the external inflows during the second quarter of 2017/2018 amounted to $1,561 billion, a decline compared to $1,566 billion in the corresponding quarter of 2016/2017, according to the report.

The report showed that the European Union countries ranked first in terms of countries investing in Egypt with a total of $1.96 billion, pointing out that the United Kingdom investments amounted to $1.09 billion.

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