Egypt

Egypt welcomes 27 percent more tourists in four months, says vice minister for tourism
Egypt

Egypt welcomes 27 percent more tourists in four months, says vice minister for tourism

Inbound visitors from Arab countries rise by 54 percent in 2024

Fitch revises Egypt’s outlook to positive on stronger FDI, reduced external financing risks
Economy

Fitch revises Egypt’s outlook to positive on stronger FDI, reduced external financing risks

Egypt's GDP growth to slow to 3.1 percent in 2024 before accelerating to 4.7 percent in 2025

Egypt’s Mashrou’ak program funds 211,000 projects worth $590 million: Minister
Banking & Finance

Egypt’s Mashrou’ak program funds 211,000 projects worth $590 million: Minister

The Minister promoted investment and private sector activities in agricultural industrialization with 341 technological centers

Egypt’s foreign currency reserves to surge by $16.2 billion in FY24/25: Report
Economy

Egypt’s foreign currency reserves to surge by $16.2 billion in FY24/25: Report

The report forecasts a growth rate of 4.30 percent for the Egyptian economy in 2025/2026

Egypt seeks investment boost from South Korea across key sectors
Economy

Egypt seeks investment boost from South Korea across key sectors

Egypt to implement incentive packages to attract investments in the industrial sector

China’s Xinxing Ductile to invest $400 million in Egypt within 5 years
Egypt

China’s Xinxing Ductile to invest $400 million in Egypt within 5 years

In April, SCZONE laid the foundation stone of the Xinxing Ductile Iron Pipes Corporation’s factory

Egypt sets sail for renewable future with $9 billion FDI for 8 GW wind projects
Egypt

Egypt sets sail for renewable future with $9 billion FDI for 8 GW wind projects

The government signed two land receipt notes for carrying out the projects west of Sohag

Egypt to cut interest rates by 2 percent in May; inflation to decrease to 20 percent by end of 2024: Report
Economy

Egypt to cut interest rates by 2 percent in May; inflation to decrease to 20 percent by end of 2024: Report

The CBE's Monetary Policy Committee is scheduled to meet on May 23 to review the key interest rates

Egypt, Italy to establish AI hub in Cairo to serve Africa
Egypt

Egypt, Italy to establish AI hub in Cairo to serve Africa

Egypt's strategic location positions it as a key partner in AI development in Africa

Egypt’s net foreign assets deficit falls to $1.36 billion in March: CBE
Economy

Egypt’s net foreign assets deficit falls to $1.36 billion in March: CBE

International reserves increase to $40.361 billion from $35.311 billion in February

Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent
Egypt

Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent

SCZONE inked 14 agreements with major Chinese companies to boost investment

Egypt to ensure foreign currency availability through maintaining flexible exchange rate
Economy

Egypt to ensure foreign currency availability through maintaining flexible exchange rate

This represents a key condition for Egypt's $8 billion loan program signed with the IMF

Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report
Economy

Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report

The report predicts an 18.1 percent average annual headline inflation rate

Egypt targets 3-5 year timeline for IPO program, finance minister reveals
Egypt

Egypt targets 3-5 year timeline for IPO program, finance minister reveals

Maait highlighted that Egypt is on track to achieve financial stability after facing a severe economic crisis

Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda
Economy

Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda

Egypt further plans to sell more state assets, which would reduce the state's role in the economy

Egypt to build 2 solar power stations with $20.6 million in EU funding
Egypt

Egypt to build 2 solar power stations with $20.6 million in EU funding

Projects signal Egypt's commitment to renewable energy expansion and economic development

Egypt’s budget surplus soars to $8.74 billion in first nine months of FY 2023/2024
Banking & Finance

Egypt’s budget surplus soars to $8.74 billion in first nine months of FY 2023/2024

This marks a substantial growth compared to $1.05 billion in the same period in FY 2022/2023

Egypt’s inflation rate decelerates to 33.3 percent in March
Economy

Egypt’s inflation rate decelerates to 33.3 percent in March

Month-on-month, prices rose by 1.0 percent in March, down from 11.4 percent in February

Egypt to raise minimum wage for private-sector workers
Economy

Egypt to raise minimum wage for private-sector workers

The minimum wage increase reflects commitment to safeguarding workers' interests

Egypt’s trade deficit narrows 37 percent in January 2024
Egypt

Egypt’s trade deficit narrows 37 percent in January 2024

25.30 percent decline in imports reduces trade imbalance

Egypt’s foreign reserves jump to $40.36 billion in March
Banking & Finance

Egypt’s foreign reserves jump to $40.36 billion in March

The reserves surged by 14.4 percent

Egypt’s currency crisis impacts non-oil sector demand: PMI data
Economy

Egypt’s currency crisis impacts non-oil sector demand: PMI data

PMI remained below the long-term average, signaling ongoing challenges

Egypt’s net foreign assets deficit shrinks by $7.04 billion in February
Banking & Finance

Egypt’s net foreign assets deficit shrinks by $7.04 billion in February

The financial support and land sale deal contributed to the NFA improvement

IMF ties Egypt’s $8 billion loan disbursement to currency flotation
Economy

IMF ties Egypt’s $8 billion loan disbursement to currency flotation

Economic reforms and currency flexibility to unlock funding