FDI figures up after CBE adopts new methodology

FDI figures up after CBE adopts new methodology: The Central Bank of Egypt has updated its record of FY2018-2019 foreign direct investment (FDI) figures to reflect a new method it is using to calculate FDI, the local press reported citing a CBE source. The new calculation, which boosts last year’s FDI figure to USD 8.3 bn (up from USD 5.9 bn), includes some capital that were not previously taken into account. The United Nations Conference on Trade and Development (UNCTAD) — which helped the central bank adopt the new methodology — said that it improves the survey response rate of foreign companies operating in Egypt and revises upwards FDI inflows into the oil and gas sector.