The CBE revealed an increase in the net inflow of foreign direct investment into Egypt, recording about $5.7 billion
The Central Bank of Egypt (CBE) revealed an increase in the net inflow of foreign direct investment into Egypt, recording about $5.7 billion during the period from July to December, compared to $3.3 billion in the same period in 2021.
The CBE reported that foreign direct investments in non-oil sectors increased to record a net inflow of $6.6 billion up from $4.4 billion.
The CBE attributed this to the increase in net investments received to establish new companies or increase the capital of existing entities, to record $2.2 billion up from $1 billion dollars.
The Egyptian economy's international transactions during the period of July to December of the fiscal year 2022/2023 resulted in an improvement in the current account deficit at a rate of 77.2%, to record about $1.8 billion.
Egypt has been making efforts to increase its investment flows, including the government's economic reform program, which has helped to stabilize the economy, and the country's strong macroeconomic fundamentals.