The Central Bank of Egypt (CBE) said that net foreign direct investments have increased to $6.6bn starting from July 1 until March 2017, compared to $5.9bn during the same period of the last fiscal year, with an 11.5% increase.

The CBE added in a report on Wednesday that the increase is a main result of the total net flow of investments into the country in the petroleum sector worth $1.8bn, recording $3.3bn during the first nine months compared to $1.5bn year-on-year (y-o-y).

According to the report, the total inflow of foreign direct investment in Egypt during the period (July-March) 2016 to the same period in 2017 has increased by 12.1%, recording $10.8bn compared to $9.6bn y-o-y.

Total outflow during the first nine months of the current fiscal year recorded $4.2bn compared to $3.7bn y-o-y.