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Egypt expects $13-15 bln in foreign investment next fiscal year, finance minister says

CAIRO, March 20 Egyptian Finance Minister Amr El Garhy said on Monday his country was expecting foreign direct investment to increase to $13-15 billion in the 2017-18 fiscal year, after a currency flotation in November revived foreign interest.

Garhy told Reuters by telephone that Egypt's 2017-18 budget would assume an oil price of $55-57 per barrel.

Garhy told a local television station on Sunday night that the budget would be presented to parliament by the end of March.

Some $3.5 billion in foreign investment has flowed into Egyptian Treasury bills and bonds since the currency was floated in November, losing about half its value. (Reporting by Ehab Farouk; Writing by Lin Noueihed; Editing by Dominic Evans)

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