Egypt needs more investments to boost its economy

In a few short years, if everything goes according to plan, Egypt will have new megaprojects, special investment zones and power plants fuelled by the largest offshore gasfield in the Mediterranean. But in the more immediate future, experts say the government needs to boost investment and bring in foreign capital to avoid a looming cash crunch.

Billions of dollars in debt repayments are coming due, foreign currency reserves fell to a six-month low in August, and Finance Minister Hany Kadry Dimian said last week that foreign direct investment is not growing as fast as hoped. Experts say if the government doesn’t act quickly, the investment needed to realise its ambitious plans may not materialise in time.