"Egyptian economy is improving in the light of recent government economic reform measures," according to reports by international investment banks.

In their report on the Egyptian economy, the JPMorgan and Standard chartered banks said the Egyptian government has implemented a number of reforms that bore fruits in the form of hikes in foreign direct investments (FDIs).

Egypt is among the emerging markets luring FDIs, said the reports. By the end of 2005, FDIs in Egypt will up to $ 5 billion, the reports said. JPMorgan said Cairo and Alexandria Stock Exchange (CASE) has been among the highest performance stock markets in the world in 2005.

The report highlighted the World Bank (WB)'s evaluation of Egyptian reform measures in the sixth place among world countries in 2005. Egypt's tourism revenues will hit $ 7.2 billion in 2006 compared to $ 6.4 2005, according to the bank report.

28/5/2006