Egypt economy

Suez Canal revenues surge by 35% in Q1 2023, reports Egyptian Presidency

Tue, 11 Apr 2023 - 04:12 GMT

Egypt's President Sisi met with officials to discuss Suez Canal's exceptional Q1 performance, with record daily traffic and a 35% revenue surge.

Egypt's foreign trade hit $78.4 bln in 10 months

Mon, 26 Nov 2018 - 05:00 GMT

Egypt's foreign trade has recorded $78.4 billion from January to October 2018, compared with $67.09 billion in the same period of 2017.

WB official commends Egypt's investment climate

Fri, 12 Oct 2018 - 12:34 GMT

Egypt has exerted great efforts in terms of the development process and legislative reforms which contributed to improving the investment climate, Mahmoud Mohieldin.

Foreign currency inflows to banks reach $77B

Sun, 22 Apr 2018 - 10:15 GMT

The central bank announced earlier that Egypt’s foreign reserves had increased by $100 million by the end of March 2018.

After Sisi's re-election, IMF says private sector needs more reforms

Wed, 04 Apr 2018 - 11:13 GMT

IMF's Mission Chief for Egypt Subir Lall told Egypt Today that the country needs further reforms to bolster its private sector and job creation.

Egypt to be best performer in MENA in 2018: EFG-Hermes

Tue, 06 Mar 2018 - 07:54 GMT

Egypt will have the best economic performance in 2018 among other markets in the Middle East and North Africa region, according to an EFG-Hermes survey.

An Industrial Leap Underway

Sat, 03 Mar 2018 - 01:34 GMT

With a vision to reach a 21% growth rate by 2020, the industrial sector is full-speed ahead toward development.

Egypt to receive $2B from IMF after program review in June

Mon, 26 Feb 2018 - 02:13 GMT

Removing all fuel subsidies except for LPG by FY 2018/19 and will shield the budget from fluctuations in oil prices, IMF's regional director told Egypt Today

IMF sees confidence returning in Egypt’s economy

Tue, 23 Jan 2018 - 02:15 GMT

The fund forecasts Egypt economy to expand further to 4.8 percent in 2017/18 and to 6 percent in the medium term.

Egypt’s economy to grow by 4.5% in FY 2017/18: WB

Wed, 10 Jan 2018 - 12:54 GMT

Egypt’s economic growth will be boosted by ongoing reforms and improved business climate, the World Bank predicted in a Wednesday report.

IMF's mission agrees on Egypt's loan 3rd disbursement

Fri, 10 Nov 2017 - 10:41 GMT

The International Monetary Fund (IMF) announced it has reached a staff-level agreement with the Egypt on the second review of its economic reform program.

BADEA grants Banque Misr $50M renewable line of credit

Thu, 28 Sep 2017 - 10:32 GMT

Through the line, Banque Misr will receive the agreed-on cash to finance the export processes of the Arab commodities with no less than 30 percent.

Egypt not to raise fuel prices in FY 2017/18: Garhy

Wed, 27 Sep 2017 - 11:44 GMT

Egypt is keen on keeping the external debt within “safe limits” as it is related to what the economy produces, the minister said.

Investment Minister, USAID ink $100M cooperation deals

Wed, 27 Sep 2017 - 09:45 GMT

The deals aim to support the government of Egypt's economic reforms, Sustainable Development Plan 2030 and private sector led growth and job creation.

Egypt extends anti-dumping duties on rebar iron for 2 months

Tue, 26 Sep 2017 - 02:48 GMT

The duties will increase on the rebar iron imported from China, Turkey and Ukraine.

Oil, natural gas output hits 6.1M tons in July 2017: CAPMAS

Tue, 26 Sep 2017 - 01:21 GMT

Local consumption of oil and natural gas also saw an increase to 6.8 million tons year-on-year in July.

EGX ends in green, market capitalization gains LE 2.3B

Tue, 26 Sep 2017 - 12:49 GMT

Turnover increased to LE 1.28 billion, up from LE 1.13 billion Monday, while traded volume leveled up to 576.7 million shares.

NBE collects $13.5B in foreign currencies 11 months

Tue, 26 Sep 2017 - 12:29 GMT

The National Bank of Egypt accumulated LE 330 billion from the “Platinum” certificates with interest rates of 16 and 20 percent in 11 months

AMOC targets LE 1.1B profits in FY2017/18: Chairman

Mon, 25 Sep 2017 - 01:25 GMT

AMOC is waiting for the approval of the Egyptian General Petroleum Corporation (EGPC) to buy condensates from the UAE’s Dana Gas, the chairman said.

Egypt inks 83 oil, gas deals with foreign firms in 4 yrs: Molla

Mon, 25 Sep 2017 - 12:47 GMT

Egypt has all the potential to become an energy hub, and exerts great efforts to develop this potential, in order to enable countries to rely on Egypt, Molla said.