Cairo – Mubasher: Net foreign direct investment (FDI) in Egypt went down 22.8% year-on-year during the first nine months of fiscal year 2018/2019, data by the Central Bank of Egypt (CBE) revealed on Thursday.

Net FDI in the North African nation totalled $4.646 billion from July 2018 to last March, compared to $6.019 billion in the prior-year period.

During the nine-month period ended 31 March, total inflows of FDI in Egypt remained unchanged at $10.2 billion, whereas total outflows stood at $5.6 billion.

Net inflows for oil sector investments registered $2.9 billion, while net inflows for greenfield investments amounted to $903.1 million.

In addition, transfers for purchasing real estates in Egypt by non-residents rose to $725.7 million.