A recent report issued by the Institute of International Finance (IIF) has expected foreign portfolio investment, including in the stock market, to record a net inflow of $7bn in the current fiscal year 2016-2017. “Portfolio investment in Egypt is projected to shift to a net inflow of $7bn in the current fiscal year ending June 2017, as compared with a net outflow of $1.3bn in the previous fiscal year,” the report said. The report noted that Egypt’s stock market is benefiting from the current procedures by attracting more foreign inflows. The foreign investors have been net buyers of Egypt stock since the flotation last November. Foreign investors held the equivalent of $6.7bn in Egyptian government securities as of the end May, compared to less than $1bn in the previous five years combined.

Source: Daily News Egypt June 11, 2017 07:09 UTC