economy
The European Union is reportedly preparing the $8 billion to relieve pressure on the Egyptian economy as concerns over the impact of the ongoing war on Gaza continue to grow
The report explained that the target unemployment rate for the year of the plan is between 7.3% - 7.6%, while the target is to achieve an inflation rate of 16%.
Egypt enjoys strong relations and a huge portfolio size with the European Investment Bank (EIB), in light of the role played by the Ministry of International Cooperation to develop and strengthen economic relations with multilateral and bilateral development partners and international institutions.
The visit of Turkish President Recep Tayyip Erdogan to Egypt gives a new impetus to enhancing economic cooperation and trade exchange between both countries, especially since they are linked with distinguished historical economic relations.
Swailam told Egypt Today (ET) that in this difficult situation, the company’s goal is to establish a presence to support the Egyptian economy.
The ministers delved into various areas of bilateral cooperation, including information technology, artificial intelligence, agriculture, food, water management, education, culture, and support for small and medium enterprises
The EBRD forecasted Egypt’s GDP to rise by 4.8 percent during FY2023/2024, driven by recent reforms to boost private sector growth and easing of external and fiscal vulnerabilities
From Fitch Solutions’ most optimistic view of Egypt’s growth to the lowered expectations of the IIF, a diverse range of forecasts paints a complex picture of the country’s potential growth in the coming year as the country faces numerous external geopolitical and economic shocks.
International Monetary Fund (IMF) Director Kristalina Georgieva said on Sunday that the IMF will strongly support Egypt in continuing reforms.
The IDSC stressed the importance of governance, transparency, and regulation of markets, with the goal of fostering competitiveness in the Egyptian economy
The IMF anticipates that consumer prices in Egypt will increase from 13.2 percent in the fiscal year ending in 2022 to 35.7 percent 2022/2023, followed by a decrease to 25.9 percent in 2023/2024.
In the research and exploration plan until 2030, the petroleum sector aims to drill 110 exploratory gas wells with investments amounting to about 4.8 billion dollars.
Airports have an important and vital role in attracting economic and commercial activities and attracting direct and indirect investment to areas that need development.
Over the past years, the Egyptian Ministry of Planning and Economic Development has aimed to achieve comprehensive economic development.
President Abdel Fattah el-Sisi called on the Asian Infrastructure Bank (AIIB) to play a greater role in low-cost financing to support economies amid global challenges.
Egypt's imports of mobile phones declined significantly last May, as their total value amounted to only about 282 thousand dollars, while it was about 13 million and 595 thousand dollars in May 2022, a decline of about 13 million and 313 thousand dollars.
Egyptian President Abdel Fattah al-Sisi addressed the public in a speech he gave Saturday from Beni Suef, where he discussed the difficult economic circumstances currently witnessed and the efforts exerted by the government to alleviate its impact.
Egyptian Minister of Communications and Information Technology, Dr. Amr Talaat, held discussions about the investment opportunities available in the communications and information technology sector during a roundtable meeting with a number of officials from American companies.
The Egyptian state continues its major successes and achievements in the gas and oil file, and this comes at a time when Egypt is seeking to increase its reserves of gas, the demand for which has recently grown, in addition to the efforts of many European countries to secure alternative sources away from Russian supplies.
Egypt’s economic agreement with the IMF faces delays as the government seeks dollar liquidity and encounters challenges in meeting agreed requirements.
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