Sunday, December 05, 2021

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Foreign investment in Egypt grows during 2021 first quarter

Foreign investment in Egypt grows during 2021 first quarter

Cairo, Aug 18 (Prensa Latina) The net inflow of Foreign Direct Investment (FDI) in Egypt had a 47.3-percent increase in the first quarter of 2021, compared to the same period in 2020, the Government announced on Wednesday.
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Egypt’s non-oil FDIs during that period, which represents the third quarter of fiscal year 2020-21, increased 21.72 percent year-on-year, a communique stated.

Authorities estimate that the country could receive seven billion dollars in FDI in fiscal year 2021-22, Planning and Economic Development Minister Hala El Saeed said last week.

The information is included in the economic project recently approved by Parliament for that period.

As part of the plan, the national Gross Domestic Product is expected to grow 5.4 percent, while unemployment and poverty fall 7.3 percent and 28.5 percent, respectively.

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