economy

Discussed: Benefits of Egypt's joining BRICS's New Development Bank

Thu, 02 Feb 2023 - 11:47 GMT

Egypt Today reviews benefits of Egypt's joining of BRICS agreement in light of the parliamentary report of the Economic Affairs Committee.

Egypt's economic performance shows positive indicators, as growth rate continues to rise

Tue, 31 Jan 2023 - 12:50 GMT

The positive growth rate in Egypt continued in the first quarter of the fiscal year 2022/23, recording 4.4 percent.

Arish Sea Port to become one of int'l ports on Mediterranean coast thanks to latest major developments

Mon, 23 Jan 2023 - 01:19 GMT

The port of El-Arish is witnessing the largest development movement of its kind to become one of the international ports on the Mediterranean coast.

Egypt’s PM opens ‘Ahlan Ramadan’ exhibition

Sun, 15 Jan 2023 - 07:40 GMT

The exhibition provides all commodities that are required for the Egyptians’ consumption during the holy month of Ramadan, the ninth month of the Islamic Calendar when Muslims worldwide fast from dawn to dust.

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

UPDATED: Dollar price records unprecedented rise, drop during Wednesday trading

Wed, 11 Jan 2023 - 12:10 GMT

While the Central Bank leaves prices setting according to the mechanisms of supply and demand, without any intervention to support the value of the local currency.

Egypt's general budget achieves primary surplus LE 10.2bln at 0.1% of GDP

Sat, 24 Dec 2022 - 12:53 GMT

The growth came thanks to an increase in budget revenues by 15.6% during the first quarter of the current fiscal year, to reach 258.9 billion pounds, despite the increase in banks by about 19.2% compared to the same period in the last fiscal year.

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.

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.

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