Egypt’s tourism sector to contribute 8.1% of national GDP in 2024: World Travel and Tourism Council

Thu, 27 Jun 2024 - 04:43 GMT

In 2023, Egypt’s tourism sector contributed around 24 percent of the country’s GDP in 2023, recording around LE 953 billion

World Bank cites reduced Suez Canal traffic and tourism for 2.8% growth forecast for FY2023/2024

Wed, 12 Jun 2024 - 11:58 GMT

For the coming fiscal year, the WB affirmed its previous forecast, predicting a 4.2 percent growth rate for FY2024/2025, while estimating a slight bump for FY2025/2026 to 4.6 percent

Following Parliament’s approval, Finance Minister reveals key draft budget details for FY24/25

Tue, 04 Jun 2024 - 12:51 GMT

The total budget for the upcoming fiscal year is currently at approximately LE 5.5 trillion, a significant increase from the current fiscal year’s budget of about LE 3.4 trillion

BMI Research forecasts Egypt’s growth in FY2023/2024 at 3.2%

Thu, 16 May 2024 - 04:28 GMT

BMI Research, a subsidiary of Fitch Solutions, revised its forecast for Egypt’s growth in the current and coming fiscal years, displaying cautious optimism as it expects stronger growth in investment spending for FY2024/2025

Egypt targets economic growth of 7-8% by 2027: Planning Minister

Sun, 21 Apr 2024 - 10:22 GMT

She noted that in spite of the anticipated economic growth deceleration in 2024 due to Middle East conflicts, the rate is projected to surpass regional average.

Egypt’s primary surplus hits 1.3% during past six years

Thu, 18 Apr 2024 - 03:44 GMT

Furthermore, he pointed to Egypt’s target of achieving a primary surplus of 3.5 percent in the fiscal year 2024/2025.

Egypt’s real GDP growth to rise to 4.9 percent for FY2024/2025, Goldman Sachs

Thu, 04 Apr 2024 - 01:12 GMT

Seen by the Arab World News Agency, the report shares that Goldman Sachs predicts the country’s real GDP growth to average between 6-6.5 percent for FY2025/202

Egypt sets goal to achieve 3.5% primary surplus in GDP for FY2024/2025

Wed, 13 Mar 2024 - 03:00 GMT

These discussions took place during an open dialogue on the upcoming budget for FY2024/2025, which is set to commence on July 1st

El-Sisi's latest directive focuses on enhancing investments in Egypt's human resources

Wed, 13 Mar 2024 - 12:41 GMT

El-Sisi pointed to the importance of ensuring that investments are channeled in a manner that maximizes benefits for the citizens

Egypt's budget deficit soars by 6.7% during current fiscal year

Sun, 10 Mar 2024 - 12:46 GMT

Speaking at a press conference in Cairo on Sunday, Maait also disclosed that the primary surplus for the same period amounted to LE 193 billion, a rise from the LE 41.8 billion reported a year ago.

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.