Egypt
Decline in shipping through the Suez Canal and tourism to impact 2023-2024 growth
The report cited the recent floating of the pound exchange rate and an enhanced IMF agreement
Egypt's rural inflation declined to 26.7 percent while overall inflation declined to 27.4 percent
Agreement follows approval of $8 billion extended fund facility loan in March
Payment solution offers flexible repayment plans spanning up to 60 months with no down payment
New business levels across Egypt fell at the slowest rate since September 2021 in May
The country's general budget indicators show that total revenues are expected to be EGP2.6 trillion
Of the 19 offers it received, the central bank accepted only 17 with a value of $500.6 million
The pound devaluation and foreign investments alleviated the country’s currency crisis
Total foreign liabilities held by the CBE and commercial banks in April reached EGP32.523 trillion
The value of exports fell 10.9 percent year-over-year to $3.57 billion in March 2024
The CBE's overnight deposit rate, overnight lending rate, and main operation rate will remain unchanged
From July 2023 through April 2024, industrial zones and ports attracted 144 new contracts
In 2023, Egypt received a record-breaking number of tourists, reaching 14.906 million
Real estate sector contributed close to 20 percent of Egypt's GDP in 2023
These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025
Total unemployment across Egypt declined 2.5 percent compared to the previous quarter
Saudi Arabia topped the list of Arab countries importing the most from Egypt during the year
Private sector's contribution to the GDP increased to 71 percent this year
Prices in April increased by 1.1 percent, up from 1.0 percent in March, on a month-on-month basis
Emirati investments in Ras El-Hekma to exceed $150 billion
Egypt targets attracting 30 million tourists by 2028 in light of additional funding for more tourism development projects
Inbound visitors from Arab countries rise by 54 percent in 2024
