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FINANCIAL NEWS
Egypt’s FDI grows to highest level since Jan 25 Revolution
11 Jun 2017
(MENAFN) Minister of Investment and Intl Co-op proclaimed that foreign direct investment has reached USD6.8bn since the start of the year.
Additionally, annual FDI was USD11.1bn in FY 2016/17, reaching a significant jump of USD13.2bn in FY 2017/18, then fell to a low of USD2.1bn in FY 10/11.
However, headline inflation slowed from 31.5 percent in April to 29.7 percent in May, while inflation is still likely to grow back to the 30 percent around the summer.
Accordingly, interest rate cuts are only likely when monthly inflation shows inflationary pressures have subsided and the earliest possibility is around early 2018.
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MENAFN1106201700450000ID1095549460
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