FDI scores $2.27B in Q2 2017: CBE

CAIRO – 1 August 2017: Egypt’s net foreign direct investment (FDI) declined $500 million in the second quarter of 2017, recording $2.27 billion, compared to $2.77 billion in Q2 2016, the Central Bank of Egypt (CBE) said.

In its monthly bulletin for June, the CBE noted that total inflows reduced to $3.34 billion in Q2 2017, compared to $3.5 billion in the corresponding quarter last year.

Meanwhile, external outflows in that period increased by $272 million to record at $1.07 billion, up from $727.7 million, the CBE added.

The European Union topped the list of total sources of inflows in that quarter, shaping $2.38 billion from the total value of investments.

Under this category, the United Kingdom alone registered $1.83 billion, followed by Belgium at $482.3 million, France at $482.3 million, Germany at $20.2 million and Italy at $17.3 million.

The United States invested a total value of $482.2 million in Q2 2017.

As for Arab countries, they injected $300.8 million in total FDI, with the United Arab Emirates topping the list with $161.1 million, followed by Saudi Arabia at $37.7 million.

Investments of other countries amounted to $181.7 million, including $50.6 million of Chinese investments and $21.7 million of Swiss investments.