Cairo - Mubasher: Prime Research expects the Egyptian pound flotation to help raise the country’s non-oil exports by 10% during fiscal year 2017/2018 to $16.64 billion, compared to $15.14 billion in the year before.
The rise of global oil prices will contribute to increasing Egyptian petroleum exports to $7.5 billion by the end of the current fiscal year from nearly 6.54 billion in FY16/17, according to a research note issued on Wednesday.
The report indicated that currency float will help bring more foreign direct investment to Egypt, highlighting that repayment of foreign oil companies' arrears also set to revitalize the sector, especially after the Zohr gas field begins production by FY19/20.
