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IMF
Economy
IMF eases some conditions on Egypt’s $8 billion finance package
Egypt's economic growth to increase to around 5.5 percent as structural reforms to strengthen the business climate pay off
Economy
Egypt targets sub-10 percent inflation by 2025-2026 as CAPMAS data shows easing price pressures
The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June
Economy
Egypt’s inflation slows for 5th straight month to 25.7 percent in July
Egypt's inflation rate has declined for the last five months after reaching a record high of 38 percent in September 2023
Banking & Finance
Egypt’s overseas workers send home $7.5 billion in Q2 2024, signaling success of IMF-inspired currency reform
Before the March reforms, the pound was officially pegged at 30.85 to the U.S. dollar, but traded as low as 74 on the black market
Banking & Finance
Egypt’s primary budget surplus soars 6.1 percent in 2023/24, driven by UAE investment and tax revenues
Expenditure amounted to $61.25 billion, with a budget deficit of 3.6 percent
Economy
Saudi Arabia’s real GDP rises 1.4 percent in Q2 2024, driven by non-oil sector expansion
Saudi Arabia's GDP contracted by 0.4 percent annually primarily driven by the 8.5 percent annual decline in oil activities
Banking & Finance
IMF completes third review for extended arrangement with Egypt, approves $820 million disbursement
The decision follows a positive economic assessment since the program's launch in December 2022
Economy
IMF maintains global GDP growth forecast at 3.2 percent for 2024
For the Middle East and Central Asia, oil production and regional conflicts continue to weigh on prospects
Economy
IMF reaches staff-level deal for $820 million loan to Egypt
Agreement follows approval of $8 billion extended fund facility loan in March