Deutsche Bank: Foreign investments in Egypt hit $1.5 billion by 2000
Egypt, Economics, 1/4/2000

In its 1999 edition of "The Middle East and the Arab World" report, Deutsche Bank said that the Egyptian economy hit a 5.7% growth rate and that investment rate increased by 16% while budgetary deficit did not exceed 1% and inflation rate 3.6% in 1998.

It further said that the flow of direct foreign investments into Egypt will remarkably expand, adding that it is expected to hit $1.5 billion by 2000.

The Deutsche Bank report further lauded the successful performance of the Egyptian economy in the face of the 1998 economic crises that hit the emerging markets and the decrease in oil prices and forecast a sustained development in the coming years as a direct result of the national mega projects currently being implemented in Toshka and Sharq Tafriah.

It is noteworthy that the Deutsche Bank is the biggest in the Euro Currency Zone with 1,400 branches in Germany and over 260 branches in other European countries.

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