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Egypt's foreign net inflows record $6.4bn in FY14/15

Egypt's foreign net inflows record $6.4bn in FY14/15
Photo Credit: Arabianeye-Reuters

Cairo-Mubasher: Egypt's net inflows from foreign direct investments reached $6.4 billion in the fiscal year 2014/2015, up from $4.1 billion in the previous year, according to the Central Bank of Egypt(CBE).

CBE attributed the increase in the net inflows to the growth of the investments, received to either set up new companies or raise the raise the capital of others, by 69.1% to $3.8 billion compared with $2.2 billion in FY13/14.

Meanwhile ,the inflows from the petroleum sector recorded $1.7 billion in FY14/15, compared with $1.6 billion a year earlier.