Bloomberg News

Egypt Had FDI Outflows of $482.7 Million in 2011

March 25, 2012

(Corrects to add dropped word in headline.)

Egypt said it had foreign direct investment outflows of $482.7 million in 2011 compared with inflows of $6.4 billion a year earlier after the popular uprising that toppled President Hosni Mubarak.

The Arab country registered a balance of payments deficit of $18.3 billion in 2011 compared with a surplus of $1.3 billion in 2010, the central bank said in an e-mailed statement today. Remittances rose to $14.3 billion from $12.5 billion in 2010, it said.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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