The report stated that Egypt thus became the continent’s largest investment destination for the fourth consecutive year.
Meanwhile, the Cabinet’s Media Center reported today that
Egypt recorded a 45.2% decrease in its current account deficit during the first
quarter of fiscal year 2025–2026 compared to the same quarter of fiscal year
2024–2025, registering $3.2 billion.
The Media Center added that this was achieved thanks to
several factors, including a 29.8% rise in remittances from Egyptians working
abroad to about $10.8 billion, a 13.8% increase in tourism revenues to around
$5.5 billion, a 12.4% rise in Suez Canal revenues to approximately $1.05
billion, and a 24.1% increase in non-oil merchandise exports, reaching $9.8
billion.