Egypt is targeting a 5.6 percent inflation rate in the current FY2020/2021, which ends in June, and 6 percent in FY2021/22, which starts in July, Minister of Planning and Economic Development Hala El-Said announced.
El-Said made her statements while (...)
Egypt's total external debt jumped to $125.3 billion by the end of the first quarter (Q1) of the current FY2020/2021, up about $1.8 billion year-on-year, according to the Central Bank of Egypt.
In its quarterly report on Egypt's external position, (...)
The Central Bank of Egypt (CBE) has raised the daily withdrawal and transfer limits through mobile phone wallets to EGP 30,000 for companies and facilities, up from EGP 6,000, and increased the daily limit for individuals to EGP 100,000, up from EGP (...)
President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso arrived in Cairo on Tuesday night for an official visit, one of her first since she came to office in November 2020.
During her visit, Renaud-Basso is (...)
On Saturday, the regional director of the Japan International Cooperation Agency (JICA) Hideki Matsunaga arrived in Egypt for a one-week visit, his first official visit to the country.
Ahram Online sat down with Matsunaga in a virtual interview that (...)
All countries in the Mediterranean region are concerned with the conservation and fair distribution of water, which needs a common approach, as water became a ground for tensions and conflicts, said the Ambassador of the European Union (EU) to Egypt (...)
Egypt's real GDP growth is forecast to decline to 2.3 percent in the current FY2020/2021 — which ends in June — down from 3.6 percent in FY2019/20, according to the World Bank's (WB) updated report on Egypt's economic outlook, issued on the occasion (...)
The Central Bank of Egypt (CBE) has instructed all banks to apply new simplified procedures for the self-employed and owners of micro-sized projects to open banking accounts as part of Egypt's financial inclusion policy, the CBE announced on (...)
The UK will establish a new finance facility, located in Egypt, that aims to reinforce trade ties between the two countries, particularly in the exports sector, said Emma Wade-Smith, the UK's Trade Commissioner for Africa.
Wade-Smith made her (...)
Egypt and the United Nations (UN) have signed a cooperation protocol on the project of financing sustainable development goals (SDGs) in Egypt in collaboration with the UN's SDGs Fund.
Egypt's Minister of Planning and Economic Development Hala (...)
The International Finance Corporation (IFC), a member of the World Bank Group, and ALEXBANK, an Egyptian private bank, announced on Tuesday a partnership to help Egyptian farmers access financing to purchase solar irrigation systems, reducing their (...)
State-employees' wages in the state's FY2021/2022 budget plan have been increased by EGP 37 billion in implementation of the recent presidential directives, Egypt's Minister of Finance Mohamed Maait announced on Tuesday.
Maait explained that the (...)
Egypt's debt instruments attracted EGP 41.8 billion in four auctions, figures released by the Central Bank of Egypt (CBE) showed.
On Sunday, the CBE offered two types of treasury bills (T-bills) in Egyptian pound in an auction, including a 91-term (...)
Egyptian expats remittances grew by 10.5 percent during 2020 to reach $29.6 billion, up from $26.8 percent in 2019, the Central Bank of Egypt (CBE) announced on Monday.
The CBE said that the remittances increased to $7.5 billion from October to (...)
Egypt is expected to see a slowdown in its real GDP growth of three percent in 2021, down from the 3.6 percent in 2020, before rebounding to 4.9 percent in 2022, according to the African Development Bank (AfDB).
In its outlook report on Africa's (...)
The National Council for Women (NCW), the Central Bank of Egypt (CBE), the European Union (EU), the Embassy of the Kingdom of the Netherlands, and UN Women in Egypt have announced the launch of the project of Women's Empowerment and Financial and (...)
Egypt's external debt grew by 11.2 percent during the first nine months of 2020 to post $125.3 billion by the end of September, up from $112.6 billion in December 2019, the new data released by the Central Bank of Egypt (CBE) showed.
Meanwhile, (...)
The World Bank, the National Council for Women (NCW), in collaboration with the UK's Embassy in Egypt, announced on Thursday the official launch of the Egyptian Gender Equity Seal (EGES).
The seal is a certification awarded to private sector (...)
The Organisation for Economic Co-operation and Development (OECD) has revised its projections for the global GDP growth in 2021 to 5.6 percent this year, an upward revision of more than 1 percent from the December OECD Economic Outlook, expecting (...)
Global Finance, an American magazine that specialises in financial markets and investment banking, named the African Development Bank (AfDB) the best multilateral financial institution in the world for 2021, the bank said in a statement.
In 2020, (...)
Start-ups in the Middle East and North Africa (MENA) region have raised $160 million in February across 43 deals, driven largely by debt financing, Wamda, a start-ups accelerator, said in a recent report.
Egypt placed fourth among the region's (...)
Egypt's long-term foreign currency issuer default rating (IDR) remains at B+ with a stable outlook, Fitch Ratings announced on Wednesday.
Fitch attributed its affirmation to Egypt's recent track record of fiscal and economic reforms, which the (...)
Egypt's annual headline inflation in urban areas accelerated to reach 4.5 percent in February, up from 4.3 percent recorded in January, the Central Agency for Public Mobilisation and Statistics (CAPMAS) announced on Wednesday.
Meanwhile, Egypt's (...)
Egypt's economic growth is expected to rise to 2.8 percent during the third quarter of the current FY2020/2021, which ends in March, and to climb to 5.3 percent by the end of the fiscal year — which ends in June, according to Egypt's Minister of (...)
Egypt is showing resilience in navigating the ongoing COVID-19 crisis thanks to its economic reform program, launched in 2016, and the actions the government has taken to contain the pandemic and its related socio-economic repercussions, said Motaz (...)
