Cairo – Mubasher: Egypt is expected to attract foreign-currency inflows worth $86.7 billion during 2019 from seven sources, government officials said.
These inflows include the hike of tourism revenues to $11 billion, along with higher foreign direct investment (FDI) which may hit $9 billion, and the potential Eurobond issue at $4 billion, the sources told Youm7 newspaper.
The government officials further indicated that the inflows will also comprise $4 billion from the International Monetary Fund’s (IMF) $12 billion three-year Extended Fund Facility (EFF), in addition to as much as $26 billion from Egyptians’ remittances, $27 billion revenues from exports, and $5.7 billion from Suez Canal.
The North African nation’s foreign-currency reserves rose to $44.51 billion by the end of November, from $44.501 billion in October, according to the Central Bank of Egypt’s (CBE) data.
