{"id":563839,"date":"2021-07-26T04:00:35","date_gmt":"2021-07-26T04:00:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/fdi-to-grow-in-egypt-over-coming-four-years-imf\/"},"modified":"2021-07-26T04:00:35","modified_gmt":"2021-07-26T04:00:35","slug":"fdi-to-grow-in-egypt-over-coming-four-years-imf","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/fdi-to-grow-in-egypt-over-coming-four-years-imf\/","title":{"rendered":"FDI to grow in Egypt over coming four years - IMF"},"content":{"rendered":"

<\/a> The IMF sees FDI in Egypt climbing in each of the next four years. <\/strong>Egypt could see foreign direct investment jump as much as 60% this fiscal year compared to last year, the International Monetary Fund said in a report (pdf)<\/a> released following its second review of Egypt\u2019s USD 5.2 bn standby facility<\/a>. The IMF sees Egypt landing FDI of USD 8.6 bn in FY2021-2022, up sharply from USD 5.4 bn last year \u2014 and forecasts that FDI will rise to USD 11.7 bn in FY2022-2023 before hitting USD 16.5 bn in FY2024-2025.<\/p>\n

Strong rebound in tourism in the cards:<\/strong> Tourism revenues are similarly expected to see a rebound to USD 8 bn this fiscal year, up from a projected USD 4.4 bn in FY2020-2021. This will further increase to USD 15 bn in FY2022-2023, reaching USD 25.1 bn in FY2024-2025. \u201cTourism receipts are expected to remain subdued as travel restrictions in many key tourist markets remain in place,\u201d read the report, though the resumption of direct flights<\/a> from Russia to Red Sea destinations next month will likely brighten the outlook. Receipts are expected to reach pre-pandemic levels of 4% of GDP in FY2023-2024.<\/p>\n

The picture isn\u2019t quite as healthy for the overall trade balance<\/strong>, which the IMF sees falling deeper into deficit over the next four years. Exports will increase only marginally from USD 29.4 bn during the current fiscal year to USD 32.1 bn in FY 2024-2025, and will be outpaced by import growth which will surge from USD 65.9 bn this year to USD 83.8 bn by the middle of the decade.<\/p>\n

Suez Canal revenues <\/strong>are expected to hit USD 6.6 bn in FY2021-2022, and to inch up to USD 7.6 bn by FY2024-2025. Suez Canal revenues hit a record USD 5.84 bn<\/a> last year.<\/p>\n

Foreign reserves will continue to creep up over the next 12 months<\/strong>, reaching USD 44.1 bn by the end of the current fiscal year. Reserves will surpass pre-pandemic levels<\/a> in FY2022-2023 to reach USD 47.6 bn, before climbing to USD 55.1 bn by the middle of the decade.<\/p>\n

GDP forecasts remain unchanged:<\/strong> The IMF expects economic growth to almost double to 5.2% in FY2021-2022 from a projected 2.8% in the previous fiscal year. This will rise again to 5.6% in FY2022-2023 before ticking up to 5.8% by FY2024-2025.<\/p>\n

OTHER ECONOMY NEWS- Egypt will have the third largest economy in the Arab region <\/strong>by the end of 2021<\/strong>, Forbes<\/a> reports, citing IMF forecasts. The fund expects the Egyptian economy to be worth USD 394.3 bn by the close of the year. Despite almost a 10% increase from 2020\u2019s GDP, Egypt will slip one spot as the UAE sees a 13% increase in GDP to USD 401.5 bn. Egypt follows Saudi Arabia, which will maintain its position as the largest regional economy, with a GDP of USD 804.9 bn, according to the IMF.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IMF sees FDI in Egypt climbing in each of the next four years. Egypt could see foreign direct investment jump as much as 60% this fiscal year compared to last year, the International Monetary Fund said in a report (pdf) released following its second review of Egypt\u2019s USD 5.2 bn standby facility. The IMF […]<\/p>\n","protected":false},"author":1,"featured_media":563840,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,103,348,272,125,7103,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-fdi","tag-gdp","tag-imf","tag-investment-watch","tag-suez-canal","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"145904dd-6ef4-40c8-9d24-a6ffa780988c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/248.jpg","photo_position":"above","related_issue":[563833],"teaser":"","voice_url":""},"yoast_head":"\nFDI to grow in Egypt over coming four years - IMF - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/fdi-to-grow-in-egypt-over-coming-four-years-imf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FDI to grow in Egypt over coming four years - IMF\" \/>\n<meta property=\"og:description\" content=\"The IMF sees FDI in Egypt climbing in each of the next four years. Egypt could see foreign direct investment jump as much as 60% this fiscal year compared to last year, the International Monetary Fund said in a report (pdf) released following its second review of Egypt\u2019s USD 5.2 bn standby facility. 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saying she expects Egypt to land some USD 7 bn worth in FY2021-2022, just ahead of the USD 6.8 bn we are on track to\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/277.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579369,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/current-account-deficit-narrows-20-in-1q-2022-23\/","url_meta":{"origin":563839,"position":1},"title":"Current account deficit narrows 20% in 1Q 2022-23","author":"enterpriseam admin","date":"5 February 2023","format":false,"excerpt":"Higher FDI, exports and tourism revenues are easing balance of payments pressures.","rel":"","context":"In 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The ratings agency believes that the Madbouly government\u2019s track record of reform and\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/298.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563870,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/egyptian-economy-to-grow-5-this-fiscal-year-reuters-poll\/","url_meta":{"origin":563839,"position":3},"title":"Egyptian economy to grow 5% this fiscal year -Reuters poll","author":"enterpriseam admin","date":"27 July 2021","format":false,"excerpt":"Egypt will grow at a 5% clip in FY2021-2022, according to a Reuters survey of analysts and economists. The figure is the same as expected by analysts in a similar poll by the newswire in April, but is slightly below the 5.4% targeted by the government and the 5.2% forecast\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/261.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556336,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/20\/fdi-surges-globally-but-emerging-markets-are-lagging\/","url_meta":{"origin":563839,"position":4},"title":"FDI surges globally, but emerging markets are lagging","author":"enterpriseam admin","date":"20 October 2021","format":false,"excerpt":"Global foreign-direct investment (FDI) flows staged a strong comeback in 1H2021, jumping 78% y-o-y, according to the United Nations Conference on Trade and Development\u2019s (UNCTAD) latest Investment Trends Monitor (pdf). Global FDI during the first six months of the year sat at USD 852 bn \u2014 quickly approaching the USD\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/222.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579160,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/29\/sp-global-affirms-egypts-rating-on-exchange-rate-flexibility-amid-imf-gcc-support\/","url_meta":{"origin":563839,"position":5},"title":"S&P Global affirms Egypt\u2019s rating on exchange rate flexibility amid IMF, GCC support","author":"enterpriseam admin","date":"29 January 2023","format":false,"excerpt":"S&P Global Ratings has affirmed Egypt\u2019s B credit rating with a stable outlook, saying it expects fresh financial support from the IMF and the GCC will help us meet our external funding needs. The rating agency believes that Egypt will be able to rely on lenders to satisfy its FX\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/474.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563839"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563839\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563833"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563840"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563839"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563839"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}