Foreign investments exit market by 12% in Q1 2015: CBE
Hisham Ramez CBE governor - YOUM7 (Archive)
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CAIRO: The rate market exit of foreign investment is 12 percent during the first quarter of 2015, to reach $1.53 billion, compared to $1.74 billion in the same period from the last year, according to the Central Bank of Egypt (CBE) monthly bulletin.

The CBE bulletin shows that the size of foreign investments during the first quarter of 2015 recorded a growth of 207 percent, to reach $2.94 billion compared to the previous quarter.

CBE attributed the growth to the British and Arab investments, especially that of the United Arab Emirates.

“European Union investments reached $2.03 billion during the first quarter of 2015, compared to $1.6 billion in the same period of the last year,” said CBE.

U.K. investments recorded $1.68 billion, while Arab investments jumped from $386.8 million in the first quarter of 2014 to $1.34 billion in the same period of 2015.

Meanwhile, the bulletin shows a decline in the U.S. investment to $508.6 million in the first quarter of 2015, compared to $536.6 million in the same period of the last year.

The government held the Egypt Economic Development Conference (EEDC) in March to stabilize the Egyptian economy that suffered a crisis since 2011.

A total of 40 agreements and memoranda of understanding with estimated investments of $162.9 billion were signed during EEDC

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