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FinancialNews


  • 23-08-22

    UAE financial activity in Egypt surges by over 169 percent H1 of current fiscal year

    (MENAFN) As shown by most recent fiscal data, UAE investments in Egypt surged by 169.1 percent throughout the first 6 months of the 2021-2022 financial year.

    The value increased to USD1.9 billion from USD712.6 million throughout the same six-month span of time of the 2020-2021 financial year, in line with data issued by the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS).

    In the meantime, the worth of trade exchange among the UAE and Egypt stood at USD1.2 billion throughout the January-March period of 2022, in comparison with USD1.1 billion throughout the same period last year, CAPMAS stated in its announcement.

    This indicates a 1.4 percent surge in trade exchange among the two nations.

    In the meantime, the worth of remittances from Egyptians working in the UAE witnessed a 1.4 percent surge to USD3.5 billion throughout the 2020-2021 economic year as compared to USD3.4 billion over the same span of time in 2019-2020, Egyptian statistics agency mentioned.

    MENAFN23082022000045014228ID1104739136

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