AfDB highlights Egypt’s easing inflation, lowers avg. inflation rate forecast for next FY

Mon, 29 May 2023 - 12:26 GMT

This is lower than the previously forecasted 20 percent, with AfDB pointing to “high food and nonfood prices and the devaluation of the Egyptian pound"

NCW launches campaign addressing economic motives of unregsitered migration

Fri, 26 May 2023 - 08:07 GMT

The Egyptian National Council for Women (NCW) launched an awareness media campaign within the framework of the project "Addressing the Economic Motives of Illegal Immigration."

Climate change poses significant threat to Africa's economy, food safety, social development

Fri, 26 May 2023 - 07:45 GMT

The weather has the most extreme impact on human health, safety, food and water security, and social and economic development in Africa, especially the most vulnerable groups.

Gov't expects growth rate of 4.1% in 5 sectors

Mon, 22 May 2023 - 09:04 GMT

Hala Al-Saeed, delivered a report on the economic and social plan before the House of Representatives, which referred to the most important sectoral indicators in this regard as follows:

Egypt's unemployment rate decreases to reach 7.2% in last quarter of 2022

Thu, 18 May 2023 - 07:38 GMT

This came as Egyptian Minister of Finance, Dr. Mohamed Maait confimed in the financial statement on the state’s draft general budget for the fiscal year 23/24 submitted to the House of Representatives.

Supreme Investment Council convenes successful inaugural meeting, sets stage for economic growth

Wed, 17 May 2023 - 11:12 GMT

The inaugural meeting of the Supreme Investment Council has concluded, marking a significant step towards economic growth.

The Sovereign Fund of Egypt acquires 49% in El-Ezaby Pharmacy

Tue, 09 May 2023 - 11:24 GMT

El-Ezaby will utilize the investment to increase its branch count to almost 600, the pharmacy chain has been looking to expand its services to serve as much customers as possible.

Egypt’s value of exports witness a $24B increase in 8 years: The Egyptian Cabinet

Mon, 08 May 2023 - 04:45 GMT

The Egyptian Cabinet’s Media Center published a report highlighting Egypt’s export figures and trade indicators.

Egypt in negotiations with gold companies to finalize terms of gold exploration agreements

Mon, 08 May 2023 - 02:01 GMT

The negotiations are currently underway between those entities and the government revolve around royalty, tax rates among others

Egypt’s building materials exports increase by 7.1 percent YoY in 2022, TradeMin

Sun, 07 May 2023 - 04:08 GMT

Exports of the building materials industry reached nearly $6.9 billion in 2022, up from $6.5 billion in 2021.

Egypt’s international reserves increased by $548 million in four months, CBE

Sun, 07 May 2023 - 03:37 GMT

CBE reported the value of gold listed in reserves increased to $8 billion in April, compared to $7.3 billion in December, an increase of $705 million.

Egypt, Angola to strengthen bilateral cooperation in the housing sector

Sun, 07 May 2023 - 11:26 GMT

Gregório’s visit will focus essentially on the new political-administrative centers, construction of highways and new urban centers.

Suez Canal revenues record LE 22.7 bln last February: CAPMAS

Mon, 24 Apr 2023 - 10:54 GMT

The agency showed that the revenues were about L.E. 8.6 billion in the same month in 2022, recording an increase of about L.E. 14.1 billion.

Egypt’s GDP grow to record 4% in FY2023/2024: BNP Paribas

Wed, 19 Apr 2023 - 12:36 GMT

BNP Paribas contributed the short-term deaccelerated growth to weakened household purchasing power and a slowdown in some major infrastructure programs

Chinese amb. expresses his country's trust in Egypt's ability to overcome current challenges

Tue, 18 Apr 2023 - 01:00 GMT

Chinese Ambassador in Cairo Liao Liqiang has expressed his country's confidence in Egypt's ability to overcome current challenges, maintain social stability and economic development and make a new progress in its march towards building the "New Republic".

IMF expects Egypt's economy to grow 3.7% in 2022/23, 5% in 23/24

Tue, 11 Apr 2023 - 04:22 GMT

In its report on global economic prospects, issued Tuesday, the IMF expected that inflation rates in Egypt would reach 21.6 percent during 2022/2023, declining to 18 percent in 2023/2024.

Suez Canal revenues surge by 35% in Q1 2023, reports Egyptian Presidency

Tue, 11 Apr 2023 - 04:12 GMT

Egypt's President Sisi met with officials to discuss Suez Canal's exceptional Q1 performance, with record daily traffic and a 35% revenue surge.

World Bank expects Egypt's GDP to grow 4% in 2023, 2024

Thu, 06 Apr 2023 - 03:51 GMT

The World Bank elaborated that Egypt's forecast reflects the expectation that its competitiveness might be increased due to the recent depreciation of the Egyptian pound.

Discussed: How Egypt invests in its white sand

Mon, 27 Mar 2023 - 12:17 GMT

A study by the Egyptian Center for Thought and Studies highlighted the importance of sand a commodity that is bought and sold, due to its many uses on which many strategic industries depend.

IFC's Vice President visits Egypt Monday, discusses private sector's contribution to economy

Sun, 19 Mar 2023 - 02:10 GMT

The IFC has a growing investment portfolio amounting to about $1.5 billion in investment projects in Egypt, in addition to $32 million in advisory programs.