Cairo – Mubasher: Norway's sovereign wealth fund, the world’s largest, increased its investments in Egyptian companies by 14.3% in the full-year 2018, according to official data.
The fund’s, previously known as the Government Pension Fund Global, investments in the Egyptian companies totalled $428.28 million last year, from $374.4 million in 2017.
A total of 56 Egyptian companies attracted the fund’s investments in 2018, against 46 companies in the prior year.
In addition, Norway's sovereign wealth fund boosted its investments in 19 UAE firms by 13.3%, or $40.5 million, to $346.55 million in the full-year 2018, from $306.06 million in 2017.
It is noteworthy that the fund saw a6.1% losses, the highest since 2011, in 2018.
The International Monetary Fund (IMF) forecast Egypt’s economic growth to increase by 5.5% in 2019.
