Why Egypt’s annual inflation jumps to 32-month high in February 2022?
CBE attributes increase in annual urban inflation to strong monthly food dynamics in February
Hossam Mounir
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Latest by Hossam Mounir
Egypt’s trade deficit decreases 21.6% in December 2021: CAPMAS
The Central Agency for Public Mobilisation and Statistics issued on Tuesday its monthly Foreign Trade bulletin for December 2021.
MSMEDA, Tax Authority call on firms with EGP 10m turnover to speed up declarations’ submission
Government offers new tax incentives to owners of registered projects without any requirements
Egyptian remittances increase to $31.5bn in 2021
Remittances increase by 3.4% in December 2021
CBE extends cash cover for foodstuffs until 15 March 2023
The CBE has extended the exclusion period twice in the past two years since it first introduced the exemptions in 2019.
CBE conducts survey to find out needs of SMEs: Deputy Governor
Funding is no longer biggest challenge facing SMEs, as they need non-financial technical support: Gamal Negm
33.47% deposit growth at HDB, registering highest rate among banks on EGX in 2021
Highest growth in corporate loans estimated at 36.7%, equity 25.10%, net income from return 16.88%
Egypt’s external debt registers $137.4bn in September 2021: CBE
Long-term debt accounts for 91.6% ($125.9bn) of total external debt
CGC’s contribution to GDP increases to 2.8%
100% growth in financing portfolio for MSMEs during 2021: Naglaa Bahr
Annual urban inflation rises to 8.8% in February 2022: CAPMAS
CPI up by 2% in February
NBE, ITI sign protocol to qualify youth for labour market
The agreement was signed at the National Telecom Regulatory Authority (NTRA) in Nasr City. The signing ceremony was witnessed by Minister of Communications and Information Technology Amr Talaat, and Chairperson of NBE Hisham Okasha
Islamic banking in Egypt amounts to EGP 429bn in 2021: Eifa
Islamic deposits record about EGP 350.4bn, financing reaches EGP 328bn
HDB records 21% increase in pre-provision, tax profit to EGP 2.8bn in 2021
Bank’s business results reflect strength of its financial position, growth rates: Hassan Ghanem
Non-government bank deposits in local currency record EGP 4.457trn in January 2022: CBE
Non-government deposits in foreign currencies reach EGP 659.901bn in January 2022
Egypt on green, sustainable finance map: Finance Minister
We obtained our first green finance worth $1.5bn: Maait
Government aims to issue T-bills, bonds worth EGP 230.25bn in March
Outstanding balance of local T-bills, bonds reaches EGP 3.867trn until January 2022: Finance Ministry
saib achieves pre-provision, tax profit of $68.9m in 2021
Continuous growth of bank’s business is supported by ambitious expansion plans: Chairperson Al-Khouly
Total financial position of banks in Egyptian market approaches EGP 9trn in November 2021: CBE
Bank deposits increase to EGP 6.306trn, credit facilities up to EGP 3.066trn, of which 60.2% granted to private sector
‘Your Project’ programme injects EGP 22.4bn to finance 189k SMEs until January 2022
1,500 projects implemented in January 2022, with total loans amounting to EGP 300m
FDI in Egypt registers $1.664bn in 1Q 2021/22: CBE
Total inflows rise to $3.704bn, compared to $3.497 during 1Q 2020/21
MSMEDA signs cooperation protocol with Jumia Egypt to help enterprise owners market their products
This comes within the framework of the agency’s keenness to support project owners and help them market their products using modern technological methods as well as enable them to grow and expand, increase their competitiveness, and open new markets that help them increase their sales.
Government keen to cooperate with international partners: Trade Minister
The results of the field survey are being released to monitor the repercussions of the spread of the coronavirus on commercial and service establishments
Egypt’s CBE launches initiative to ensure import operations are carried out using documentary credits
The initiative targets customers who have a history of importing through collection documents only and from the same bank
Suez Canal Bank records 6% by end of 2021
The bank injected EGP 2bn into the initiatives of the Central Bank for Industry, Contracting, and Tourism
CBE’s FinTech Egypt releasing first comprehensive report providing overview of unprecedented growth of FinTech in Egyptian market
The report’s release is within the CBE’s efforts to promote and support the FinTech ecosystem
Keeping policy rates unchanged remains consistent with achieving the CBE’s next inflation target
Domestic economic activity is expected to record robust growth figures along the near outlook horizon
Egypt aims to expand in financing technological, innovative projects: Gamea
Venture capital programme worth $50m launched to finance new, existing investment funds
CBE reveals reasons for high inflation in January 2022
Annual urban inflation increases to 7.3% in January 2022 from 5.9% in December2021 , highest rate since August 2019
CBE to stop accepting documentary collection in import operations
Branches of foreign companies will be exempted from this decision
63.1% decrease in trade deficit during November 2021
The value of exports increased by 80.6% to $4.48bn in November 2021, compared to $2.48bn in November 2020, due to a price increase of some commodities, such as fertilizers by 83.3%, plastics in their primary forms by 51.9%, fresh fruits by 50.2%, and ready-made clothes by 31.5%.