economy

CBE representative to join 2 committees on investment disputes settlement upon PM decision

Fri, 03 Jul 2020 - 11:07 GMT

CBE Governor Tarek Amer will represent the bank in the two committees, the source said.

Belarus keen on boosting cooperation with Egypt in different domains: Belarus amb. to Egypt

Thu, 02 Jul 2020 - 10:33 GMT

The trade between both countries inched down from January until May because of COVID 19.

FRA chairman says nano finance encourages new economic activities

Sun, 28 Jun 2020 - 04:18 GMT

Nano finance is thus one way of supporting certain segments of society, such as women and youth, to become a productive social power, Omran said in a statement Sunday.

Egypt keen on strong new start of national industry, says minister

Sun, 28 Jun 2020 - 04:12 GMT

Work is underway to outline a statute of an SMEs bill to help achieve Egypt’s development goals, the minister said.

Egypt largest recipient of FDI in Africa for 2019 by $9B: UNCTAD

Sun, 28 Jun 2020 - 03:17 GMT

The report noted that the economic reforms undertaken by the Egyptian government have improved macroeconomic stability and boosted investor confidence in the country.

IMF: Global economy to take $12tn hit from coronavirus

Thu, 25 Jun 2020 - 01:29 GMT

IMF said it expected the global economy to shrink 4.9 percent this year — a sharper contraction than the 3 percent it predicted in April.

IMF places Egypt among top 30 countries with strong economic performance

Wed, 24 Jun 2020 - 04:45 GMT

In its World Economic Outlook for June, the fund expected Egypt and China to achieve a positive growth in 2020 despite economic challenges posed by the novel coronavirus pandemic.

Egypt backs developing global economic system - Trade min.

Mon, 22 Jun 2020 - 06:41 GMT

The minister reiterated on Monday that Egypt supports such a balanced system to help countries counter the repercussions of the novel coronavirus outbreak.

Gov’t expenditure to rise by 6%, revenues by 18 % in FY 2020/21 budget: Cabinet

Mon, 22 Jun 2020 - 06:38 GMT

Reaping the fruits of national economic reforms alongside the easing of the economic repercussions of the novel coronavirus are the key features of the 2020/21 budget.

Bourse gains EGP 5.2 bln this week, all indexes up

Fri, 19 Jun 2020 - 09:46 GMT

The market capital gained EGP 5.2 billion to reach EGP 579.6 billion compared with EGP 574.4 billion in the previous week, recording an increase of 0.9%.

Egypt's economic growth rate among the best worldwide despite coronavirus crisis: minister

Thu, 18 Jun 2020 - 11:10 GMT

In May 2020, inflation rate hit 5 percent while unemployment was estimated at 7.5 percent and trade balance deficit declined to 36 percent, she said.

Decision to stop alcohol exportation for 3 months continue: Trade min.

Thu, 18 Jun 2020 - 10:28 GMT

Minister of Trade Niven Gamea' issued a decision on maintaining the suspension of exporting alcohol for three months.

Bad things happen when finance front-runs the economy: Mohamed El-Erian

Sun, 14 Jun 2020 - 04:15 GMT

Allianz’s chief economic adviser and president-elect of Queens’ College, University of Cambridge Mohamed El-Erian wrote an article on Financial Times about the American economy and switch happen in it during the last period.

Moody's reviews impact of COVID-19 on Egypt's economy

Wed, 10 Jun 2020 - 04:21 GMT

Moody’s Investors Service published a FAO on the impact of coronavirus on Egypt’s event risk, public finances and longer-term credit trends.

Finance Ministry reviews int’l institutions trust in Egypt’s economy

Wed, 10 Jun 2020 - 04:14 GMT

This came during Kojaks’s meeting with representatives of the major international companies operating in Egypt via video conference. The meeting was organized by the American Chamber of Commerce and the American Development Organization "USAID".

Int'l institutions forecast positive growth rate for Egypt's economy: minister

Fri, 05 Jun 2020 - 05:00 GMT

The government targets to boost investments in the higher education sector by 100 percent and IT sector by 300 percent, the minister added.

AfDB probes offering additional funding to help Egypt cushion COVID-19 impacts: official

Fri, 05 Jun 2020 - 09:53 GMT

Blomberg noted that an agreement would soon be signed with the Egyptian government on emergency grant funding worth $500,000 for the categories harmed by COVID-19.

Planning Ministry: ٬LE 2B to be pumped for renovating Bab el Azab archaeological area

Thu, 04 Jun 2020 - 11:12 GMT

This came in a video published by the Ministry of Planning and Economic Development on the social media.

Planning minister: Performance of Egyptian economy one of the best amid virus crisis

Thu, 04 Jun 2020 - 11:08 GMT

This came in a report published by the Ministry of Planning to give analysis on the development of some indices related to the economic and social performance during the third quarter of the current fiscal year 2019/2020.

CBE denies issuing 500-pound banknote

Thu, 28 May 2020 - 11:20 GMT

An official at the bank dismissed as groundless reports circulated in social media.

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