economy
At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate remained stable, recording EGP 15.64 for buying and EGP 15.74 for selling.
The finance minister added the economic reforms are mainly contributing to boosting the structure of the Egyptian economy and establishing a strong economy
Egyptian Minister of Electricity and Renewable energy revealed that Sinai has witnessed a great and unprecedented boom in developing its electricity networks to be able to meet the needs of citizens and the national and investment projects that are being carried out for the first time on the land of Sinai.
Maait added that the draft budget for the fiscal year 2022-2023 will witness greater spending on improving people's lives and facilitating decent livelihoods, in implementation of presidential directives.
The Petroleum Ministry, in a statement on Friday, said that under the deal, Eni company is abiding by spending at least additional dlrs 20 million to dig four wells.
The meeting discussed efforts to maximize the value-added of minerals extracted from the black sands in Egypt, presenting the map of the various economic minerals found in the black sands in Egypt as well as their industrial applications.
The Planning and Economic Development Ministry announced on Saturday that the general investments directed to the Red Sea governorate in the 2021-22 fiscal year reach EGP 4.2 billion.
The report pointed out that Egypt started to reap the fruit of the economic reform program despite world economic crises and challenges.
Potentials of Egyptian-Serbian cooperation in health, energy, and tourism were discussed in a meeting between President Abdel Fattah el-Sisi and the speakers of the Serbian and Egyptian parliaments on Sunday.
A sharp rise in business costs continued to drive higher selling prices and lower demand across the Egyptian non-oil economy during November. New business fell at the quickest pace for six months, leading to a decrease in output as well as renewed cuts in employment and purchasing. Subsequently, expectations for future output fell to their weakest in a year.
El Molla stressed the importance of the years-long partnership and cooperation with the giant Russian oil company and the need to reinforce such ties ahead.
Tawfik asserted the Egyptian side’s keenness to strengthen relations with Bulgaria at all levels, the Public Enterprise Sector Ministry said in a statement on Thursday.
The committee is eyeing bigger contribution by SMEs to the national economy in order to reach 80 to 90 percent as in some major countries, Shafie said, noting that in Egypt it only stands at 20 percent.
This came in an infographic report published by the Information Center under the title of "The Egyptian economy records the highest quarterly growth rate in 20 years".
Maait clarified that this is the result of the careful implementation of harmonious and balanced financial and economic policies.
The minister expected the annual growth rate to reach between 5.5 percent and 5.7 percent by the end the current fiscal year prompted by the growth rate achieved in the first quarter.
As Egypt takes over Tuesday the chair of the COMESA, economic experts highlighted the importance of this step on multiple dimensions.
As Egypt takes over Tuesday the chair of the COMESA, economic experts highlighted the importance of this step on multiple dimensions.
Assistant Foreign Minister Ambassador Soha Gendy said that Egypt's hosting of the COMESA summit at this time is a "clear message that economic integration is one of Egypt's top priorities to achieve the required development in Africa."
Total remittances of Egyptian expatriates in the period from January to August 2021 increased by 10.4% compared with the corresponding period in 2020 to stand at 21.4 billion dollars
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