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The Egyptian ministry of investment said on Friday that FDI in Egypt rose by 26 percent to reach 8.7 billion U.S. dollars in the 20162017 fiscal year that ended in late June, compared to 6.9 billion dollars in the preceding fiscal year.

Economists still hope for further FDI to boost the country's economy that has been suffering over the past six years that witnessed massive political turmoil and relevant security issues, which led to declining tourism and foreign investment amid growing budget deficit [url=http://www.teamredskinjerseys.com/]Redskin Kids Jersey[/url] , inflation rate and foreign and domestic debts.

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While Egypt is implementing a strict three-year economic reform program that includes austerity measures, energy subsidy cuts, tax increase and a floating exchange rate, the country is engaged in a war against terrorism that killed hundreds of policemen and soldiers since the military removed former Islamist president Mohamed Morsi in July 2013.

Most of the anti-government terrorist attacks as well as those against the country's Coptic minority have been claimed by a Sinai-based group loyal to the regional Islamic State (IS) militant group.

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Fahmy said that Egypt still needs further and faster foreign investments, arguing that they are below the desired level due to the general regional instability as well as the ongoing security conditions and counterterrorism war in Egypt.

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