Egypt's FDI Net Inflows Jumps 53% to $7.31 Billion

The Net foreign direct investment (FDI) in Egypt jumped by 52.9% to about $7.31 billion during the first 9 months of the last fiscal year 2021/22, compared to $4.78 billion,year-on-year.

Portfolio investments recorded a net outflow of $15 billion, bringing cumulative balances to $37.3 billion at the end of  March, compared to $52.4 billion at the end of June 2021, according to CNBC Arabia.

Abu Dhabi Holding had invested $2 billion in March by purchasing shares of government agencies in 5 institutions listed on the Egyptian Stock Exchange.

This amounted to a total of cumulative investments of $141.61 billion, compared to $134.3 billion in June 2021, according to data published on the Central Bank’s website.

Meanwhile, portfolio investments recorded a net outflow of $15 billion, bringing cumulative balances to $37.3 billion at the end of March, compared to $52.4 billion at the end of June 2021.

The International Monetary Fund (IMF) expected the Egyptian economy to achieve the fourth highest growth rate among the most important global economies for the year 2023, despite the reduction of growth forecasts for most global economies.

The report pointed out that the IMF maintained its forecasts for the growth of the Egyptian economy for the year 2021/22, thus exceeding global growth averages, with a growth rate of 5.9% in July 2022 expectations, the same expectations durig April of the same year.