Latest in Tag: Economy Highlight
Latest in Tag: Economy
Al-Sisi’s austerity request
“Egypt’s youth is its hope; they need to give and not expect to take anything now.” “Egypt needs a lot from us. Egypt’s youth should not be thinking about when will they be able to get married or when will they ‘live’, they need to build the country first.” “Our economic situation is extremely difficult, …
Africa’s economy grows, but many stomachs are empty
By Kingsley Ighobor Each year, governments, journalists, development experts and others look forward to the United Nations Development Programme’s Human Development Report. The report includes a ranking of countries based on life expectancy, literacy, quality of life and so on. Once it is released, governments and citizens of countries with high rankings immediately trumpet their …
South Africa’s youth employment bill
In May of 2012, a violent clash erupted between protesters and the opposition. Although this sounds like a fairly common news report from Egypt these days, the incident in fact took place in South Africa. The Democratic Alliance (DA), the main opposition to the ruling African National Congress (ANC), took to the streets to march …
USAID supports entrepreneurship in Luxor
Over 150 entrepreneurs, 20 mentors and 4 judges were present at the entrepreneurship event
So how is the economy?
Last week we talked about the challenges facing the new Egyptian government. We spoke of the newly appointed prime minister’s objectives. Mr Mehleb has proclaimed that his main aims are to wipe out militant violence and improve the economy. Well, security we all know about and can see its status by watching the news; but how …
‘Let them eat cake’, part 2
When Gouda Abdel Khalek was Minister of Supply in March of 2012 he made a very “novel” suggestion— not the good kind of novel. At the time, Egypt’s food subsidy programme supplies were woefully insufficient to feed the millions of Egyptians benefitting (in theory) from the assistance. With some governorates having no rice for distribution …
PM and interior minister meet to discuss security situation
Former cabinet criticised for overemphasising security, neglecting economy
We are faced with monumental challenges: Mehleb
Defence, interior and foreign ministers retain positions on new cabinet, 31 ministers were sworn in before the president on Saturday
Finance ministry blames political instability and time-consuming projects for ‘modest economic performance’
Public investment projects, settlement of arrears and wage increases will spur economic activity, the Ministry of Finance says
Fahmy looks to strengthen Africa economic and trade ties
Minister of Foreign Affairs to present proposals for deeper economic cooperation in Africa
G20 vows to add $2tn to world economy to lift growth
US Treasury Secretary Jack Lew stressed at a press conference that the G20 had left the austerity debate behind and was fully focused on growth.
Ansar Beit Al-Maqdis claim Taba bus bombing
“Unidentified” human remains found at blast site as Sinai militant group claims targeting of tourists is part of “economic war” against government
Hopes pinned on private sector as Libya economy slumps
AFP – Small businesses are prospering in Libya’s major cities even as the economy at large is being throttled because of security problems and industrial action which has shrunk lifeline oil revenues. Its financial woes combined with lawlessness has so far discouraged the return of multinationals, three years after the outbreak of an armed revolt …
Inside the Box
Since 25 Jan and former president Hosni Mubarak’s ouster, Egypt has been in a perpetual stage of transition. All dreams of a better future and rosier outlook have evaporated in the midst of unrest that has kept investors and tourists at bay, stifling economic growth. The economy has been battered ever since, with foreign debts …
Egypt dismisses Erdogan remarks
Turkish PM’s remarks on Egypt fall on deaf ears in Cairo, says foreign ministry
Meet Reem
Reem is a cleaning lady and a mother of four. She has been married twice though neither ex-husband supports his children financially or otherwise. Reem is on her own raising her children. Reem is among the working poor. Although she works full time, she barely meets basic needs. All four of her children show signs …
Only two in 100 in Egypt have access to broadband internet: MCIT
Ministry of Communications and Information Technology says Egypt took a “fairly late place” among countries MENA region
Egypt’s growth to miss forecasts
Reuters – Egypt’s economy will only grow by 2.0% in the fiscal year ending June 2014, well below the government target of 3.5%, according to a Reuters poll of economists who lowered their forecasts once again. Chances for an economic rebound were hurt by violence and political turmoil after Islamist President Mohamed Morsi was ousted …
Benevolent dictator
South Korea has quickly become one of the world’s economic powerhouses. Growth of its real gross domestic product (GDP or the most common although imperfect measure of a country’s economic performance) was an average of 8% from 1962 to 1989. Interesting and quite relevant for Egypt today, the South Korean experience of rapid growth occurred …
Op-ed review: The economy of the revolution
Amr Khafaga Shorouk Newspaper Columnist Amr Khafaga begins his column stating that it is not strange that the current economic situation of the country is devastated. “Any true revolution is necessarily followed by economic disruptions,” Khafaga writes. He attributes the devastation to the fall of the ruling regime: “It affected the stability which was an …
Egypt seeks to strengthen ties in Latin America with visits to Honduras, Venezuela, Mexico
Numerous official meetings urge Latin American countries to invest in, support post-referendum Egypt
Consequences
So, the constitutional referendum, as expected, has passed with flying colours. Official results cite a turn out that’s over 20 million people who voted Yes for the constitution by 98%. It is again worth noting that the supreme majority of those who voted for the constitution didn’t bother reading it or care what was in …
Constitution referendum results boost investor confidence in Egypt: Cabinet’s economic team
Investors look to political stability as a determinant of rapid economic growth
Egyptian economists largely bullish on new constitution
Analysts highlight social rights guarantees in the constitution
Government striving to restructure energy subsidies: Assistant to Minister of Finance
The current interim government intends to reach a solution for the subsidies problem before it is replaced
Egypt economy to become 22nd strongest by 2028: Cebr
The economic and business research company stated that Egypt’s GDP will register $1.069tn in 2028
Turkish business warned over trade with countries in crisis
A number of Turkish companies briefly halted operations in Egypt although there has not yet been a major pullout
Egypt’s mafia fund
By Farah Halime A private equity fund launched by Gamal Mubarak managed to reel in millions of dollars of investment from Egypt’s elite, revealing the depths to which political and business connections ran as he began rising in stature in the late 1990s. According to a document obtained by Rebel Economy, Gamal Mubarak’s $54m Horus I Fund, …
Egyptian economy stabilising: Ministry of International Cooperation
Ministry of International Cooperation outlines economic picture since 25 January Revolution in new report
The curious case of Egypt’s economy
According to economists, any country that experiences a revolution should have an economic recession within six months. For anyone who has followed our news, this was not the case in Egypt, and curiously, still isn’t. One of the strangest economic facts that very few people cite about this country is that it hasn’t suffered a …