Kuwaiti bank believes COVID-19 impacts on Egypt economy faded away
In a report, the bank said that despite the pandemic, preliminary figures revealed that Egypt’s real GDP grew by 3.6% in fiscal year (FY) 2019/20, compared to 5.6% in FY 2018/19.
Latest in Tag: egypt economy Highlight
Latest in Tag: egypt economy
Egypt economy 2020 to grow 0.8% in worst case scenario: African Economic Outlook
In March, Egypt experienced portfolio outflows, 12% decline in foreign currency reserves
El-Beblawi: Preparing the economic roadmap and strategic vision for the future
Prime Minister Hazem el-Beblawi seeks to boost ailing economy
IFC proposes currency swap plan for Egypt
Private sector key to unlocking Egypt’s ‘long-term economic potential’, says Jin-Yong Cai, International Finance Corporation CEO
IMF delegation still ‘committed to supporting Egypt’
International Monetary Fund welcomes Egyptian authorities’ determination to complete the economic reform
Thousands of contracting companies bankrupt
Construction sector companies ‘forced to go to the black market’ for diesel, says a member of the Egyptian Federation for Construction & Building Contractors
Orascom workers organise march to protest Sawiris travel ban
The workers fear the closure of Orascom companies and the exit of the Sawiris family from the Egyptian market
The Egyptian government agrees to leasing agreement with Islamic Development Bank worth $250m
The deal will allow the government to lease equipment for a power plant in South Helwan
Al-Nour launches new economic initiative
The head of the economic committee at the party proposed a ‘social market economic identity’ for Egypt and the formation of a ‘truth and reconciliation committee’ for dealing with former regime businessmen
EFSA approves new GDR trading regulations
Experts: these decisions will control ‘unlicensed manipulation’ in GDR trading
GIG sees potential for takaful industry in Egypt
Daily News Egypt talks, in an exclusive interview, with Hesham Abdel Shakour, Managing Director of Egyptian Life Takaful Company, Gulf Insurance Group (GIG)
Rebel Economy Wrap
Will Egypt’s new finance minister be open to discussion?
ASEA: Unleashing Africa’s investment potential
The African Stock Exchange Association (ASEA) held its 16th annual general assembly and flagship conference in Cairo.
Rebel Economy Wrap
The government’s “fix-all” economic proposal, DP World is old and new Dubai
Changing the Debt Structure
Ministry of Finance tips the scale towards treasury bonds instead of short-term bills with little or no positive effects
Ministers fail to assure investors at Euromoney Conference
Delegates vent frustrations over lack of concrete economic plan that will see Egypt’s economy rebound
Review: The president under fire
Columnists find much to criticise in President Mohamed Morsy during the past period. Much concerns lingering thoughts regarding the Cairo Stadium celebration and its alleged shortcomings, while some are a result of his Muslim Brotherhood affiliation. The bulk of it, however, relates to the 100-day plan and its perceived failures, and what many columnists view …
Real estate tax to be implemented
The Real Estate Tax Authority (RETA) is about to instate the article 196 real estate tax law, four years after it was first issued, according to head of RETA, Tarek Farag. Farag made the announcement during a seminar to the Association of Taxes Experts. “People who are supposed to pay real estate taxes can do …
IMF lifeline, a test for Morsy
For many Egyptians, life was tough under the former regime of President Hosni Mubarak. Now it’s even tougher and things are likely to get worse before they get better
Cabinet formation to steer EGX performance this week
The stock market took a hit when HeshamQandil, Minsiter of Water Resources and Irrigation, was chosen to lead the new government
Banks regain confidence in construction materials market
It is expected that banks largely invest in construction materials during the coming period
Egypt says deficit not to exceed LE 144 bln
By Reuters CAIRO: Egypt’s finance minister denied a report published on Monday that the government had raised its budget deficit forecast for this fiscal year to LE 150 billion. Recent reform measures taken by the government to get the deficit under control had succeeded, in a statement on his ministry’s website. The size of the deficit …
Egypt core inflation 7.3 pct in February
By Reuters CAIRO: Egypt’s core consumer price inflation quickened to 7.3 percent in the 12 months to February from 6.86 percent in January, the central bank said on Sunday. Core inflation strips out subsidized goods and volatile items including fruit and vegetables. The state statistics agency CAPMAS said on Saturday that urban consumer price inflation, …
Egypt’s economy in dire straits, says IMF spokesman
By AFP WASHINGTON: The International Monetary Fund on Thursday described Egypt’s economic situation as dire, sounding the alarm on stagnant growth and a precipitous drop in the country’s foreign reserves. “Egypt’s economic situation remains challenging. Growth has stalled, and this is hurting the Egyptian economy and the Egyptian people,” said spokesman Gerry Rice. Rice also …
Economic stability needed for democratization to succeed in Egypt: US official
By Brett Borkan CAIRO: The United States sees Egypt’s economic recovery as critical in its successful transition towards democracy, and is taking immediate steps to help, according to the US Deputy Secretary of State. Speaking to a group of reporters Wednesday, the US Secretary for Political Affairs William Burns said that the US “will do all …
Analysis: Egypt economy faces rocky road after protests
By Reed Stevenson/Reuters DUBAI: Egypt’s military council faces a daunting challenge to stabilize the economy after 18 days of protests which may cut growth this year in half and have left regulators nervous about the reopening of its capital markets. In the short-run, analysts hope that there will be an orderly transition to democracy and that …