Cairo – Mubasher: Foreign direct investments (FDI) in Egypt is expected to increase in fiscal year 2017/2018 to between $13 billion and $15 billion, Egypt’s minister of finance, Amr Al Garhy, told Reuters on Monday.
Egypt plans to attract investments worth $10 billion in the current fiscal year, compared to $6.4 billion in FY15/16.
Net foreign investments in Egypt rose in the first half of FY16/17 by 39% to $4.3 billion from $3.1 billion in the same period of the previous year.
Oil price averaged between $55 and $57 a barrel in Egypt's 2017/2018 budget, the minister said.
Oil price per barrel is set at $40 in Egypt’s budget for the current fiscal year.
