Butros Ghali: 1.2 billion of investments last year, but Egypt needs more

Yousef Butros Ghali, the Egyptian minister of economy, stated in a meeting with economic reporters at the headquarters of the Egyptian Journalists Union yesterday evening that foreign investments in Cairo reached $1.2 billion last year.

Butros Ghali said he expected an increase in the averages of the foreign investments away from the petroleum sector from $3.5 to $4 billion by the year 2000. He said, "Depending on foreigners does not increase the development average, and Egyptian investments should be increased."