Thursday, 15 April 2010

PAKISTAN: CBE: FDI, remittances, exports fall in second quarter

BE: FDI, remittances, exports fall in second quarter

Building of headquarters of Central Bank of Egypt in Downtown

Foreign investment in Egypt fell by US$806 million in the second quarter of the current financial year, dropping to US$894 million from US$1.7 in the first quarter, according to a recent report issued by the Central Bank of Egypt (CBE). The decrease was attributed to drops in investment among US, EU and Arab investors.

The report also noted that remittances home sent by Egyptian expatriates fell from US$1.8 in the first quarter to US$1.7 in the second. Commodity exports, meanwhile, fell by 15.3 percent for the same period, the report stated, largely as a result of a 16.6-percent drop in Egypt's petroleum exports. Read more

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