economy

EU reportedly set to provide Egypt with $8B support package

Wed, 13 Mar 2024 - 12:31 GMT

The European Union is reportedly preparing the $8 billion to relieve pressure on the Egyptian economy as concerns over the impact of the ongoing war on Gaza continue to grow

Report: Egypt aims to achieve 4.1% economic growth rate during 2023/2024

Tue, 27 Feb 2024 - 12:14 GMT

The report explained that the target unemployment rate for the year of the plan is between 7.3% - 7.6%, while the target is to achieve an inflation rate of 16%.

Egypt-EIB cooperation portfolio values $3.6 billion in 18 development projects

Tue, 27 Feb 2024 - 11:49 GMT

Egypt enjoys strong relations and a huge portfolio size with the European Investment Bank (EIB), in light of the role played by the Ministry of International Cooperation to develop and strengthen economic relations with multilateral and bilateral development partners and international institutions.

Egypt-Turkey relations: Extended economic partnership, tremendous investment opportunities

Wed, 14 Feb 2024 - 03:06 GMT

The visit of Turkish President Recep Tayyip Erdogan to Egypt gives a new impetus to enhancing economic cooperation and trade exchange between both countries, especially since they are linked with distinguished historical economic relations.

Launch of UCC supports Egyptian economy amid challenges: Ahmed Swailam

Wed, 14 Feb 2024 - 01:32 GMT

Swailam told Egypt Today (ET) that in this difficult situation, the company’s goal is to establish a presence to support the Egyptian economy.

Egypt, Slovenia discuss opportunities for economic cooperation

Tue, 13 Feb 2024 - 12:16 GMT

The ministers delved into various areas of bilateral cooperation, including information technology, artificial intelligence, agriculture, food, water management, education, culture, and support for small and medium enterprises

Egypt’s structural reforms and progress praised by EBRD in transitional report

Mon, 15 Jan 2024 - 03:52 GMT

The EBRD forecasted Egypt’s GDP to rise by 4.8 percent during FY2023/2024, driven by recent reforms to boost private sector growth and easing of external and fiscal vulnerabilities

Evaluating Egypt’s economic growth potential through the eyes of International Institutions

Sun, 31 Dec 2023 - 07:11 GMT

From Fitch Solutions’ most optimistic view of Egypt’s growth to the lowered expectations of the IIF, a diverse range of forecasts paints a complex picture of the country’s potential growth in the coming year as the country faces numerous external geopolitical and economic shocks.

IMF to continue support for Egypt: director

Sun, 03 Dec 2023 - 03:35 GMT

International Monetary Fund (IMF) Director Kristalina Georgieva said on Sunday that the IMF will strongly support Egypt in continuing reforms.

Egypt forecasts LE70B in revenues from IPO program by end of fiscal year

Wed, 08 Nov 2023 - 05:50 GMT

The IDSC stressed the importance of governance, transparency, and regulation of markets, with the goal of fostering competitiveness in the Egyptian economy

IMF lowers Egypt's 2023/2024 growth forecast to 3.6%, expects 4.2% for 2022/23

Tue, 10 Oct 2023 - 11:41 GMT

The IMF anticipates that consumer prices in Egypt will increase from 13.2 percent in the fiscal year ending in 2022 to 35.7 percent 2022/2023, followed by a decrease to 25.9 percent in 2023/2024.

Egypt's petroleum sector aims to drill 110 exploratory gas wells until 2030

Mon, 09 Oct 2023 - 11:13 GMT

In the research and exploration plan until 2030, the petroleum sector aims to drill 110 exploratory gas wells with investments amounting to about 4.8 billion dollars.

Enhancing tourism: Discussing Egypt’s development of airports in 10 yrs

Wed, 27 Sep 2023 - 02:36 GMT

Airports have an important and vital role in attracting economic and commercial activities and attracting direct and indirect investment to areas that need development.

How Egypt achieved comprehensive economic development in 10 yrs

Tue, 26 Sep 2023 - 02:57 GMT

Over the past years, the Egyptian Ministry of Planning and Economic Development has aimed to achieve comprehensive economic development.

Sisi calls on AIIB to offer more low-cost financing to accommodate emerging economies

Tue, 26 Sep 2023 - 07:25 GMT

President Abdel Fattah el-Sisi called on the Asian Infrastructure Bank (AIIB) to play a greater role in low-cost financing to support economies amid global challenges.

Value of Egypt's imports of mobile phones rise to $564K last June

Mon, 18 Sep 2023 - 01:53 GMT

Egypt's imports of mobile phones declined significantly last May, as their total value amounted to only about 282 thousand dollars, while it was about 13 million and 595 thousand dollars in May 2022, a decline of about 13 million and 313 thousand dollars.

Sisi on economic circumstances: The state’s policies are meant to do the best, not harm anyone

Sat, 16 Sep 2023 - 02:09 GMT

Egyptian President Abdel Fattah al-Sisi addressed the public in a speech he gave Saturday from Beni Suef, where he discussed the difficult economic circumstances currently witnessed and the efforts exerted by the government to alleviate its impact.

Minister of Telecommunications, members of American Chamber of Commerce talk investment opportunities in Egypt

Thu, 14 Sep 2023 - 11:27 GMT

Egyptian Minister of Communications and Information Technology, Dr. Amr Talaat, held discussions about the investment opportunities available in the communications and information technology sector during a roundtable meeting with a number of officials from American companies.

Egypt scores successes in petroleum sector, boom in gas exports: Maat Report

Sat, 02 Sep 2023 - 12:59 GMT

The Egyptian state continues its major successes and achievements in the gas and oil file, and this comes at a time when Egypt is seeking to increase its reserves of gas, the demand for which has recently grown, in addition to the efforts of many European countries to secure alternative sources away from Russian supplies.

Egypt’s economy and IMF agreement amid exchange rate uncertainty

Tue, 15 Aug 2023 - 03:43 GMT

Egypt’s economic agreement with the IMF faces delays as the government seeks dollar liquidity and encounters challenges in meeting agreed requirements.

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