economy
Egypt Today reviews benefits of Egypt's joining of BRICS agreement in light of the parliamentary report of the Economic Affairs Committee.
The positive growth rate in Egypt continued in the first quarter of the fiscal year 2022/23, recording 4.4 percent.
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.
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.
The International Monetary Fund expected Egypt's economy will grow by 5.9% in 2025/2026
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.
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.
The minister underscored that the average growth rate in 2021 recorded 7.1 percent.
“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.
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.
A report was recently issued by MAAT highlighting the significant increase in exports, upping the country's income during the year 2021.
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.
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.
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.
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.
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.
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).
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."
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 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.
