Latest in Tag: Economy Highlight
Latest in Tag: Economy
Annual rate of inflation hikes by 29.6%, monthly by 4.3%: CAPMAS
The annual rate of inflation hiked to 29.6% in January compared to January 2016. The rate had previously stood at an annual inflation rate of 24.3% during December 2016, according to the monthly report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS). The monthly rate recorded an increase of 4.3%, which was …
Beltone delineates Egypt’s economy over the coming 5 years
Beltone Financial issued its annual report covering the Egyptian economy, titled âthe Great Recovery.â The report gave an overview of its forecasts for growth rates, budget deficit, performance of economic sectors, government plans to cut subsidy, flotation impact on the Egyptian Stock Exchange (EGX), and the expected exchange rate over the coming years. Beltone amended …
Egypt’s economy over 6 years
There are three variables in any economy which need to be reduced: inflation, unemployment, and debt; and three others which must be increased, including investment, growth, and export. There are also some intermediate variables that contribute to achieve those six goals, such as increasing the savings which help boosting investment and fighting poverty through reducing …
Weakened purchasing power decreased economic growth to 3.4% during Q1 of FY 2016/17Â
Large projects and the improved climate for investment will increase economic growth, exports, and foreign trade growth, says Minister of Planning
Tough choices
At a time in which the Egyptian people are wondering where the Egyptian government is, what is the parliament doing to control the markets, and who will save them from these crazy prices? While no one is answering these questions, and no one is thinking of the people amidst all our current crises, we were …
Economic reform programme was a necessity, Egypt reached point of no return mid-2016: Abou El OyounÂ
It was either reform or the halt of serving loans and an end to economic life
Egyptâs economy: outlook and challenges in the eyes of international financial institutionsÂ
After several years marked by turbulence and uncertainty, Egyptâs economy encountered numerous challenges, from political unrest and declining tourism, to foreign currency and fuel shortages, which led the government to adopt an economic reform programme to improve Egyptâs public finances. Between September and November 2016, authorities introduced the value-added tax law (VAT), a free-floating currency, …
2017 is the year to rectify the Egyptian economy, bank investment opportunities abound: Fahmy
Banks to look for alternative financing opportunities as state reduces dependence on budget deficit financing in 2017, says Fahmy
Banks to be vital for supporting the economy in 2017: Elkosayer
PBDAC will continue its role to serve Egyptian peasants with greater diversification of its products
Protecting the Vulnerable During Egyptâs Economic Reform
Restoring economic stability is not easy, as Egyptâs President Sisi has said many times. The country faces three interlinked problems: an urgent balance of payments problemâwhich means more foreign currency has been going out the door than coming inârising public debt, as well as low growth and high unemployment. With help from the IMF, Egypt has …
Prospects and risks of Egyptâs ambitious economic reform programme, according to the IMFÂ
Since 2011, political and regional developments have taken a significant toll on the Egyptian economy. Underlying structural challenges and the prolonged political transition led to the build-up of macroeconomic imbalances. A significantly overvalued exchange rate undermined competitiveness and depleted reserves. Weak revenue, combined with poorly targeted subsidies and a growing public sector wage bill, resulted …
The future in Davos
Nothing will remain the way it is now. Welcome to the digital world, one of the main topics this year at the World Economic Forum in Davos, Switzerland.The future can look so old-fashioned. There are five middle-aged gentlemen dressed in grey or blue suits sitting on a podium in one of the many hotels in …
Davos 2017: The great uncertainty
Once again, the global elite is meeting at the World Economic Forum in Davos. But the climate is different this time as US President-elect Donald Trump dominates the meeting – without even being there.Klaus Schwab is not to blame. And the World Economic Forum, which he founded in 1971, isn’t to blame either. Not for …
Egypt retains the region’s highest economic strength assessment: Moody’s
The Egyptian economy will grow by 4.0% and 4.5% in 2017/2018, and the debt ratio will peak at 105.9% of GDP in 2017 before declining to 105.5% in 2018.
Flotation necessary to tackle economic problems: Al-Sisi
Officers and soldiers eat gravel to save the army the suffering of 1967 without burdening the national economy, says Al-SisiÂ
After extensive struggles, new investment law emerges to regulate rhythm of Egyptâs economy
The law kills bureaucracy and protects the rights of serious investors and the state, says Khorshid
In Cartoon: Long time ago …
CBE prints EGP 200m worth of EGP 1, EGP 0.5 banknotes
The bank said in a statement on Thursday that it has printed EGP 100m of EGP 1 banknotes and EGP 100m of EGP 0.5 banknotes
2017 will be a year of reform, opportunities, challenges: prominent CEOs
Challenges in 2017 present an opportunity for growth and reform
Slovenia seeks economic relations with Egypt, condemns church attack: ambassadorÂ
Relations between Egypt and Slovenia have been on a steady path in the last year. On 5 December, President Abdel Fattah Al-Sisi received his Slovenian counterpart Borut Pahor. The visit was considered the first of the Slovenian president to Egypt. The Egypt-Slovenia Business Forum was held on 6 December, where three Egyptian companies signed cooperation …
Prominent CEOs cautiously optimistic about 2017 economic prospectsÂ
2017 will be a year of changes and surprises, requires adaptations, say CEOs
The illusion of subsidisingâPart II
I have many friends who once belonged to the middle class. They did not need state subsidies because they were able to live and afford education, healthcare, transportation, etc. for their children. However, the government’s decisions came against the wish of the people. Those friends turned from belonging to a “saving” class into classes that …
Military accounts for 1.5-2% of Egyptâs economy: Al-Sisi
The president dismissed suggestions about the military having a share of 50% of the Egyptian economy
In Cartoon: Middle class in an economic blender
In Cartoon: RIP Egypt’s middle class
In Cartoon: The world’s concerns: US v China v Egypt
How should the government pace its reforms after the IMF loan approval?
On 11 November, the executive board of the International Monetary Fund (IMF) approved a $12bn three-year extended fund facility for Egypt, in support of the government’s economic reform programme. Ever since negotiations with the IMF started, the government has implemented a number of economic reforms, including passing the civil service and value-added tax laws, floating …
Social safety nets can be a lifeline for victims of pound flotation
I decided to swim against the tide that accompanied the flotation of the Egyptian pound, the rumbling flood of comments on social media networks and opinion articles that filled newspapers and websites. Everyone is talking about the flotation and cuts to fuel subsidies, some people understand what they are talking about while others are driven …
Trumpâs victory and Egyptâs economy: are changes on the horizon?
The new president of America is expected to promote trade agreements between Egypt and US, says economics professor
Large number of Arab, foreign banks in Egypt reflects countryâs regional and international position: experts
Arab and foreign banks are more likely to make high profits in Egypt compared to the rest of the world