The stabilization is backed by the accumulation of foreign exchange reserves and high growth rates in the two years preceding the Corona pandemic, as well as Egypt's positive growth rates despite the global pandemic.
The minister stated the move reflects an international confidence in the stability and solidity of the Egyptian economy.
Egypt’s Bank deposits increased 43.1 percent in fiscal year 2016/2017 on a year on year basis to record LE 3027.8 billion.
Egypt has never failed in repaying its foreign debts on time, Finance Minister Amr el-Garhy told Egypt Today Saturday.
The EBRD credit line to Banque Misr will enable Egypt's second largest public bank to increase its funding for SMEs.
A wrap-up for the most prominent business news of the day.
The LE 100 recharging card will give LE 70 credit, instead of LE 100.
China’s central bank on Saturday cut the amount of cash that some banks must hold as reserves for the first time since February 2016 in a bid to encourage.
CBE decided Wednesday to expand the benefits of the small project loans scheme to encourage agricultural, livestock and fisheries production.
The Minister for Communication and Information Technology confirmed on Sunday that there has been no official increase of prepaid cell phone credit tariffs and individual traders are responsible for setting their own prices.
Credit ratings agency Moody's said it had downgraded South Africa a notch over gloomy growth prospects and the political instability
That number is the outcome of cooperation between civil associations and the Egyptian Union of Microfinance.
Foreign trade transactions that took place since the floatation of the Egyptian pound on 3 November 2016 until 10 April 2017 amounted to $28 billion, the Central Bank of Egypt’s (CBE) sub-governor Tarek Fayed said on Sunday