Cairo – Mubasher: Egypt witnessed foreign direct investments of more than $1 billion by the first two weeks following the flotation of the Egyptian pound against the US dollar, said Minister of Finance Amr El-Garhy.
“Most of the international credit agencies have amended their evaluation for the Egyptian economy as well as their economic outlook, “added El-Garhy on the sideline of an economic conference.
The foreigners’ ownership of governmental financial instruments, after liberalization of Egyptian pound, have increased to range between $700 million to $900 million, said Deputy finance minister for fiscal policies, Ahmed Kouchouk.
Egypt’s flow of foreign direct investments surged 7% that is equivalent to $458.4 million during the fiscal year 2015 – 2016.
