Cairo – Mubasher: The foreign direct investment (FDI) in Egypt increased by 27.5% during fiscal year 2016/17, according to a recent official statement issued by the finance ministry.
The growth in Egypt’s domestic product rose to 4.9% in the last quarter of fiscal year 2016/17 compared to 4.1% in the previous quarter, and compared to 2.3% in the same quarter of fiscal year 2015/16.
The country’s foreign exchange reserves increased to $36 billion in July, the statement added.
The budget deficit in the first nine months of fiscal year 2016/17 decreased to 9.5% of the total gross domestic product (GDP), compared to 11.5% in the same period of the previous fiscal year.
