September 12, 2017 / 9:06 AM / 2 months ago

Egypt's net FDI rises 14.5 pct in 2016-2017 -central bank

CAIRO, Sept 12 (Reuters) - Egypt’s net foreign direct investment (FDI) rose by 14.5 percent to $7.9 billion in the 2016-2017 fiscal year that ended on June 30, the central bank said.

That was well below Egypt’s target of $10 billion as the north African country continues to struggle to attract foreign investment following a 2011 uprising.

There was a “$2.3 billion rise in net inflows for oil sector investments to $4 billion,” the bank said in a statement.

Egypt paid about $2.2 billion in arrears owed to foreign oil companies in the second half of 2016-2017, which helped attract investors to the sector. (Reporting by Ehab Farouk; writing by Arwa Gaballa; editing by Jason Neely)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below