The new budget was finally approved by the Parliament with estimated value of uses at LE 4.349 trillion.
Egypt’s economic agreement with the IMF faces delays as the government seeks dollar liquidity and encounters challenges in meeting agreed requirements.
Capital Economics projects that the Egyptian pound will depreciate to 35 per dollar by the close of 2023, marking a 12 percent devaluation from its current rate of 30.95 per dollar.
"Those who are first movers... will find themselves facing a very willing market, a very exciting market," Kirkham stated. Moreover, SAF production in Egypt will contribute to environmental benefits such as reduced CO2 emissions and less pollution.
Upon this trip, Goldman Sachs issued an economic research concluding the results of the meeting.
The Confederation of African Football (CAF) regulation stipulates that the African champion will receive $4 million, while the runner-up will receive an amount of $2 million.
“Egypt is a larger economy, and growing faster,” Cerwinka told Egypt Today that this is the main reason for picking Egypt for the company’s investment.
He added that the company aims to take advantage of the advantages offered by Egypt, whether from its strategic location or the many trade agreements that allow it to enter the markets with large customs discounts, such as the Agadir Agreement with North African countries, the COMESA Agreement, as well as the the Greater Arab Free Trade Area (GAFTA) agreement.
Manzalawi said during the press conference held to announce the details of the new partnership, that the new factory aims to export 50 percent of production to African countries and the Middle East.
What if Egypt won’t devalue its currency in the short term?
Harmgart stated that the pressure of global food prices has led to more diversification strategies.
Harmgart expressed her eternal optimism with in particular, labor costs slow in and with declining exchange rate in big markets like Egypt.
The report, which focuses on the retail and office sectors, said that the retail market was naturally impacted by the global supply chain bottlenecks, import restrictions, local currency devaluation, widespread inflation, and spillover effects from the Russian-Ukrainian conflict.
Legrand also launched INNOVAL Egypt, an integrated services center that provides specialized training and support for technical staff and after-sales services, and technical studies and designs for Legrand partners and customers.
The benchmark EGX30 declined 0.56 percent, or 96.08 points, to end at 17,002.08 points.
Tourism Minister Ahmed Issa said in a meeting with the American Chamber of Commerce in Cairo, that About 13 million tourists visited Egypt in 2019.
The benchmark EGX30 increased 0.06 percent, or 9.78 points, to end at 15,561.25 points.
FIFA regulations allow each club to receive $10,000 for every day a player stays in his country’s camp during his participation in the World Cup, starting from November 14 until the end of his career in the tournament.
Regarding the group business in Egypt, Smith pointed out that they are keen to start building their export portfolio from the Egyptian borders.
The first installment of the loan value, which amounts to about $750 million, will be delivered within days.
