Tuesday, June 16, 2009

Less FDI in Egypt

The total foreign direct investment fell by over half during the first 9 months of the fiscal year (July to March), reaching 5.2 billion in March, against 11.2 billion during the same period of last year. The Governor of the Central Bank of Egypt Farouq Al-Oqda, also stated that the balance of payments recorded a deficit of $ 2.3 billion following a deficit of 4.9 billion dollars in trade balance.