Economic growth shrinks to 2.65% in Q1 of FY23/24: Planning Ministry

Tue, 16 Jan 2024 - 11:31 GMT

The latest data reveals a slowdown compared to the 2.9 percent growth witnessed in the fourth quarter of the fiscal year 2022/2023.

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

Debt-to-GDP ratio to fall below 85% by June 2028: Finance Minister

Wed, 10 Jan 2024 - 10:49 GMT

This statement comes as part of President El Sisi's directives to boost public spending and enhance the well-being of Egyptian citizens, with a focus on sustainable initiatives to improve their standard of living

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.

Budget deficit grows during first 2M of FY2023/2024, Finance Ministry

Mon, 13 Nov 2023 - 05:37 GMT

Egypt’s debt-to-GDP ratio hit 95.6 percent in FY2022/2023, with the GDP recording LE 9.8 trillion ($318,23 billion)

Egypt’s real growth rate for FY2022/2023 recorded at 3.8%, Planning Minister

Thu, 02 Nov 2023 - 06:58 GMT

The government’s target for the next fiscal year (FY2023/2024) is set at 4.2 percent, she stated during a cabinet meeting chaired by the Prime Minister on Thursday

Maait underscores Egypt’s positive financial performance, GDP deficit down to 6%

Thu, 10 Aug 2023 - 11:35 GMT

These, and the continuous efforts to mitigate the negative effects of global challenges, demonstrated Egypt's strong management of public finances, Maait said

Egyptian National Dialogue participants call for drafting legislation to put ceiling on public debt

Wed, 02 Aug 2023 - 09:55 GMT

A number of participants at the Egyptian National Dialogue have suggested drafting a legislation to put a ceiling on public debt amid the global economic crisis and increased debt burden.

Egypt achieved LE 164.3B primary budget surplus, says finance minister

Mon, 17 Jul 2023 - 07:03 GMT

The Ministry of Finance predicts a further positive surge in the primary surplus during FY2023/2024, estimating it to reach 2.5 percent of the GDP

Egypt's expenditure on social care, protection rises to 9.5% of GDP in 2022

Wed, 07 Jun 2023 - 01:36 GMT

Minister of Social Solidarity Nevine al-Qabaj highlighted Tuesday that Egypt's expenditure on social care, protection and development rose to 9.5 percent of the GDP in 2022.

AfDB highlights Egypt’s easing inflation, lowers avg. inflation rate forecast for next FY

Mon, 29 May 2023 - 12:26 GMT

This is lower than the previously forecasted 20 percent, with AfDB pointing to “high food and nonfood prices and the devaluation of the Egyptian pound"

Egyptian political parties propose reforms to boost investment attractiveness

Tue, 23 May 2023 - 03:18 GMT

The moderator of one of the sessions said that the share of the manufacturing sector in the GDP dropped to 16 percent, which is quite low.

EBRD expects Egypt’s real GDP growth for FY2022/2023 to reach 4%

Tue, 16 May 2023 - 04:31 GMT

The report noted that increased gas exports, Egypt's role as an energy hub in the eastern Mediterranean, and the implementation of business-environment reforms supported by the International Monetary Fund (IMF) were main factors to the positive outlook

Egypt’s real GDP to reach 4.1% in 2023: Ministry of Finance

Sun, 14 May 2023 - 04:40 GMT

The total debt-to-GDP declined to 87.2 percent by June 2022 from 90.6 percent the previous year.

Egypt’s GDP grow to record 4% in FY2023/2024: BNP Paribas

Wed, 19 Apr 2023 - 12:36 GMT

BNP Paribas contributed the short-term deaccelerated growth to weakened household purchasing power and a slowdown in some major infrastructure programs

World Bank expects Egypt's GDP to grow 4% in 2023, 2024

Thu, 06 Apr 2023 - 03:51 GMT

The World Bank elaborated that Egypt's forecast reflects the expectation that its competitiveness might be increased due to the recent depreciation of the Egyptian pound.

IMF expects Egypt's economy to grow by 5.9% in 2025/2026

Wed, 11 Jan 2023 - 02:01 GMT

The International Monetary Fund expected Egypt's economy will grow by 5.9% in 2025/2026

Egyptian economy to record 5% economic growth by end of 2022

Tue, 06 Dec 2022 - 03:50 GMT

The minister underscored that the average growth rate in 2021 recorded 7.1 percent.

SCA investments estimated at EGP 13.1 billion in FY2022/202323 - Planning

Sat, 05 Nov 2022 - 11:02 GMT

Investments of Suez Canal Authority are estimated at nearly 13.1 billion Egyptian pounds in the plan of action of year 2022/2023, said Egyptian Minister of Planning and Economic Development Hala Saeed.

GDP per capita increases to LE 62.5K during Q4 of 20/21

Sun, 16 Oct 2022 - 12:02 GMT

Gross domestic product at market price and current prices increased during the fourth quarter of the fiscal year 2020/2021, reaching LE 1.507 trillion, compared to LE 1.326 trillion during the same quarter of the previous fiscal year 2019/2020.