economy

Egypt expects $ 6B in tourism income during 2021-2022

Wed, 05 May 2021 - 04:04 GMT

El-Said added that the government expects to achieve $ 6 billion in the Suez Canal during 2021-2022, in addition to increasing foreign investment rates to $ 7.4 billion in the year of the plan.

Egypt's economic losses limited as result of avoiding complete curfew, applying stimulus packages

Tue, 04 May 2021 - 03:27 GMT

This came in a statement by the Ministry of Planning today its participation in preparing the chapter on the Middle East and North Africa in the Global Food Policy Report 2021, which is issued by the International Food Policy Research Institute (IFPRI).

Success of Egyptian businessmen is most important propaganda for foreign investment: Ayman Al-Gamil

Wed, 28 Apr 2021 - 03:02 GMT

Al-Gamil referred to Egypt’s unprecedented growth rates in a contractionary climate regionally and globally, adding that Egypt is progressing on indicators of development, competitiveness, business establishment, transparency and ease of procedures.

Coronavirus causes Egyptian economy losses of LE 370B

Tue, 27 Apr 2021 - 02:12 GMT

Maait added in a TV interview that more than LE 100 billion has been spent to support the sectors affected by coronavirus.

Egypt is Building Back Better and More Resilient: Al-Mashat

Fri, 09 Apr 2021 - 03:36 GMT

Entering its third year, the Human Capital Project includes over 80 countries working to invest in human capital for a “green, resilient, and inclusive recovery," she said.

Reform is not Possible without Partnerships: Mashat in WB Annual G-24 Ministerial Meeting

Fri, 09 Apr 2021 - 03:30 GMT

“Collective global solidarity creates the necessary space for an inclusive and sustainable environment that is resilient to future shocks” said Al-Mashat.

COVID-19 negatively affected UN development goals, Egypt achieves positive indicators despite pandemic

Thu, 08 Apr 2021 - 01:14 GMT

El-Said added during Human Rights Conference… "Building a Post-Pandemic World" that the global economy witnessed contraction of 3.9% during 2020 due to the repercussion of COVID-19, El-Said stated, noting that the global economy lost around $5.8 trillion during the crisis year.

Maait: Financial reform efforts positively reflected on budget indicators despite pandemic

Tue, 06 Apr 2021 - 02:27 GMT

Maait said the budget deficit decreased to stand at 7.9 percent of Gross Domestic Product (GDP), while the initial surplus was put at 1.8 during fiscal year 2019/2020.

Egypt's PMI dips in March for 1st time in 3 months

Mon, 05 Apr 2021 - 02:50 GMT

According to IHS Markit, this decline signaled a modest deterioration in the health of the sector.

Egyptian Exchange continues to post gains

Thu, 25 Mar 2021 - 02:29 GMT

Market capitalization gained about EGP 6 billion to hit EGP 651.6 billion at closing, after transactions totaled EGP 1.1 billion.

Egypt, Jordan, Iraq in talks over proposed cooperation projects

Thu, 25 Mar 2021 - 01:47 GMT

International Cooperation Minister Rania el Mashat chaired the coordinating meeting which was held on Wednesday via video conference.

CBE: Earnings of banks working in Egypt exceed EGP 58 bln by end of December 2020

Fri, 19 Mar 2021 - 08:18 GMT

The balance sheets of the banks working in Egypt, except CBE, have risen to EGP 7.022 trillion by the end of December 2020, up from EGP 5.856 billion by the end of December 2019.

EBRD offers Banque du Caire $100M to support trade and MSMES

Thu, 18 Mar 2021 - 11:48 GMT

EBRD clarified in a statement that the financing package is for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs).

In pics: EU, Spain ambassadors visit Aga Khan projects in Egypt, express admiration of Azhar Park

Wed, 17 Mar 2021 - 03:01 GMT

The ambassadors of the European Union and Spain visited the Aga Khan projects in Egypt, and expressed their admiration for Al-Azhar Park.

Egyptian, Sri Lankan presidents discuss economic, diplomatic cooperation

Tue, 16 Mar 2021 - 02:26 GMT

President Abdel Fatah al-Sisi received Tuesday a phone call from Sri Lanka President Gotabaya Rajapaksa to discuss bilateral relations.

Finance ministry: Int’l economic institutions have optimistic, positive outlook on Egypt’s economy

Mon, 15 Mar 2021 - 03:41 GMT

The minister cited reports issued by international economic institutions about Egypt’s economy and their optimistic and positive outlook on Egypt’s economic performance for the coming years.

Egyptian economy grows 2% in Q2 of FY20/21

Wed, 10 Mar 2021 - 03:44 GMT

The average growth rate of the Egyptian economy during the first half of the current fiscal year amounted to about 1.35 percent from July to December last year.

Egypt's economy to improve with support of global economy recovery, vaccine sustainability: NBK

Mon, 01 Mar 2021 - 03:42 GMT

“Growth is projected to reach around 2.8 percent in FY20/21, and to rebound strongly to about 5 percent over the medium term, benefitting from the authorities’ continued commitment to reforms and renewed IMF support,” NBK foresaw in a report

Planning Ministry launches 1st platform for entrepreneurship in ME, N Africa

Thu, 25 Feb 2021 - 10:57 GMT

The new move comes within the framework of the Egyptian state and the Ministry of Planning's efforts to support entrepreneurship and encourage youth to create job opportunities by themselves

Suez Canal hits 5th high shipment record

Fri, 12 Feb 2021 - 06:50 GMT

The south-bound convoy included 37 ships with a total cargo of 2.8 million tons, while the north-bound convoy included 35 ships carrying 2.5 million tons, he added.

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