economy

Egypt invited to participate in G-20 meetings

Thu, 24 Nov 2022 - 01:27 GMT

“The Indian invitation reflects the historical ties between the two countries […]and embodies Egypt's position regionally and internationally and its influential role in major international economic issues and files.

EIB to offer Egypt €150mn to help overcome food crisis

Wed, 23 Nov 2022 - 11:41 GMT

The European Investment Bank (EIB) has unveiled a 150-million-euro grant to be given to Egypt early 2023 to help it overcome the food problem, said Eefje Schmid, head of the Policy and Impact Unit at EIB.

Significant rise in Egypt's revenues of exports, Suez Canal: Report

Sat, 05 Nov 2022 - 11:14 GMT

A report was recently issued by MAAT highlighting the significant increase in exports, upping the country's income during the year 2021.

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.

Egypt's deal with IMF to enhance ability to withstand external shocks: CBE governor

Thu, 27 Oct 2022 - 03:07 GMT

Addressing a press conference held with the IMF Thursday at the Cabinet's premises, Abdullah said that the CBE began to improve and enhance the efficiency of monetary policy and exchange rate market performance.

Top economist calls for making use of Egypt's huge potentials

Sun, 23 Oct 2022 - 07:10 GMT

In a recorded message to the economic gathering, Eryan said world countries are facing major challenges topped by economic problems pointing out that such challenges come from advanced countries.

IMF, Egypt agree to finalize their work to reach a Staff-Level Agreement very soon

Sat, 15 Oct 2022 - 09:38 GMT

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), said that the IMF staff and the Egyptian authorities “have held very productive in-person discussions on the margins of the IMF and World Bank Annual Meetings and made substantial progress on all policies.

Egypt expects GDP to grow by 5.5% in 2022/23

Thu, 13 Oct 2022 - 02:47 GMT

The Egyptian economy grew by 6.6 percent in the 2022/2021 fiscal year, compared to 3.3 percent in the previous year, as the economy grew faster than the government had expected, initially projecting 6 percent-6.2 percent.

Egypt's economy more capable of green recovery: Finance min.

Wed, 12 Oct 2022 - 01:16 GMT

The national economy has also become stronger to cope with the various external challenges, added the minister on the sidelines of his participation in the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).

Egypt increases volume of exports, achieve self-sufficiency via increased investment

Tue, 04 Oct 2022 - 07:47 GMT

According to Ahmed Abdel Hamid, the Head of the Building Materials Division of the Federation of Industries, "there is an exceptional circumstance in the industry and economy in the world, but Egypt is able to exceed this period."

Egypt to host 'Finance Day' on November 9 within COP27 activities

Fri, 30 Sep 2022 - 03:08 GMT

The Finance Day will tackle the issues of the "innovative financing" and "fair transformation financing", the role of the private sector in mobilizing financial resources and directing them to environmentally-friendly projects, the minister said during his tour in Sharm El Sheikh city.

Egyptian Transport Minister, Japanese side discuss executive status of 4th metro line

Fri, 30 Sep 2022 - 07:37 GMT

Egyptian Minister of Transport Engineer Kamel Al-Wazir, met with the Japanese Minister of State for Foreign Affairs Kenji Yamada, in the presence of the Egyptian Ambassador in Tokyo, Ambassador Mohamed Bakr, and the President of the Egyptian-Japanese Businessmen Association.

Good petroleum prospects in Red Sea region: El-Molla

Mon, 26 Sep 2022 - 04:04 GMT

Egypt signed three agreements to search for petroleum in the Red Sea region with major international companies, and seismic research is currently being completed in preparation for the start of drilling operations.

2nd edition of Egypt-Spain Multilateral Partnership seminar kicks off Tuesday

Mon, 26 Sep 2022 - 03:00 GMT

The seminar will send a strong message from the Spanish government to assert its backing for the Egyptian economy and pushing forward economic and trade ties, according to the statement.

Egypt supports African accreditation system with international recognition: Trade min.

Mon, 26 Sep 2022 - 02:55 GMT

The minister made the remarks during a speech he delivered Monday at the opening session of the general assembly meetings of the African Accreditation Cooperation (AFRAC), which is hosted by Egypt.

Egypt targets digital exports of $5.5B in 2022/23

Mon, 26 Sep 2022 - 02:45 GMT

Egypt targets specific markets, the most important of which are Germany, the United Kingdom, France and the United States, in addition to the markets of the Gulf region.

Egypt’s gas exports hit $8B in 2021/2022

Mon, 26 Sep 2022 - 02:37 GMT

The government has implemented a plan to rationalize electricity consumption in order to provide natural gas used in the stations in order to export it abroad in light of the high global prices.

Egypt studies issuance of “green samurai” bonds during coming period

Wed, 21 Sep 2022 - 03:13 GMT

“Egypt is looking forward to doubling Japanese investments in Egypt, in order to consolidate the partnership between the two friendly countries, and in line with the bilateral cooperation relations," Maait added.

Egypt-Qatar trade exchange hits $44.8 million in 2021: CAPMAS

Tue, 20 Sep 2022 - 08:28 GMT

The energy sector is one of the most prominent areas of cooperation between both states

How Egypt's law encourages integration of SMEs into formal economy

Sat, 17 Sep 2022 - 06:05 GMT

In this regard, the Medium, Small and Micro Enterprise Development Law No. 152 of 2020, included incentives and controls to legalize the status of informal economy projects.

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