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Financials and Investment News in Egypt

Egypt Works on Expanding Reclaimed Lands
1/8/2023 - Egypt is acting to expand a lot of reclaimed lands and to cultivate strategic crops, such as wheat, said Minister of Public Business Sector Mahmoud Esmat.

It is a general policy meant to ac...
Govt Denies Reducing Pubic Servants' Salaries Over Economic Crisis
1/8/2023 - The media center of the cabinet denied on Sunday reports that the government plans to decrease financial allocations directed to public servants' salaries due to the current global economic crisis.
Sharm El Sheikh Airport Receives 1st Flight from India
1/9/2023 - Sharm El Sheikh International Airport received the first flight from Ahmedabad International Airport, said a source from the Egyptian airport.

Operated by a private airliner, the flight arr...
WB: Egypt's Economic Reforms Helpful in Overcoming Int'l Crisis
1/9/2023 - The World Bank stressed that the economic reforms carried out by Egypt will help overcome the effects of the current international crisis.

The World Bank said "Macroeconomic and structural ...
EGYPS 2023 Set to Drive The Energy Transition Conversation
1/9/2023 - With the global energy transition underway, the sixth edition of the Egypt Petroleum Show (EGYPS) returns to Cairo from February 13-15 2023 at the Egypt International Exhibition Center to propel the d...
Egypt Defers New Projects That Need USD As Part of Regulations to Rationalise Public Spending
1/9/2023 - Egypt’s Prime Minister Mostafa Madbouly has issued a number of regulations for state bodies to rationalise public expenditure amid the ongoing global economic crisis, including postponing new projects...
Egypt’s Annual Headline Inflation Rose to 21.9% in December, Up From 19.2% in November: CAPMAS
1/10/2023 - Egypt's annual headline inflation rose to 21.9 per cent in December 2022, up from 19.2 per cent a month earlier and 6.5 per cent in December 2021, announced the Central Agency for Public Mobilisation ...
MENA’s Growth to Decelerate to 3.5% in 2023 Amid The Global Economic Crisis: World Bank
1/10/2023 - Amid global economic crises, the World Bank expected the growth of the Middle East and North Africa (MENA) region to slow down to 3.5 percent this year and to 2.7 percent in 2024, down from 5.7 percen...
Deadline for Customs-Free Car Import Initiative Not to Be Extended: Finance Minister
1/10/2023 - Minister of Finance Mohamed Maait said that the government has no intention to extend the deadline for the initiative launched for Egyptians living abroad to import cars into the country, free of cust...
Egypt to Receive The Second Tranche of IMF’s $3 Bln Loan By End of March, Says Mission Head
1/10/2023 - Egypt is set to receive the second tranche of the $3 billion loan it secured from the International Monetary Fund (IMF), estimated at around $347 million, by the end of March, following the completion...
World Bank Warning: Global Economy Is At Risk of Recession
1/10/2023 - The global economy will slow "perilously close" to a recession this year, led by weaker growth in all the world's top economies _ the United States, Europe and China, the World Bank warned .

...
Active Engagement of Local Governments in Development Planning More Urgent Than Ever
1/10/2023 - Minister of Planning and Economic Development Hala El Saeed said that the Egyptian State is devoting more attention to localizing sustainable development goals (SDGs), given their conducive role in ac...
PM Underscores Significant Role of Decent Life Initiative in Developing Countryside
1/10/2023 - Prime Minister Mostafa Madbouli has reiterated the significant role played by the Decent Life Presidential Initiative in bringing about a quantum leap in the level of various services provided to citi...
IMF Lauds Egypt's Endorsement of State Ownership Policy Document
1/10/2023 - International Monetary Fund (IMF) Mission Chief for Egypt Ivanna Vladkova Hollar lauded the country's endorsement of the State Ownership Policy Document.

In a press conference held at the f...
CBE: Egypt's Annual Headline Inflation Jumps 24.4% in December 2022
1/10/2023 - The Central Bank of Egypt (CBE) announced that the annual headline inflation rate jumped 24.4 percent in December 2022, compared to 21.5 percent in November of the same year.

In a statement...
Egypt made great strides towards integrated local development: UNDP
1/10/2023 - The Egyptian government has made great strides towards integrated local development by adopting large-scale initiatives, such as the "Decent Life" Initiative, UNDP Resident Representative Alessandro F...
Environment Min. Witnesses Signing Protocol With NV University
1/10/2023 - Environment minister Yasmin Fouad witnessed, 10-1-2023, signing cooperation protocol between environment affairs agency and the new valley university to contribute to financing environment project aim...
New Draft Labor Law Stimulates Investment, Achieves Job Security: Minister
1/10/2023 - Minister of Manpower Hassan Shehata revealed his ministry’s vision and plan to integrate informal economy into the mainstream or formal economy; in line with relevant state policies and directives fro...
Gov't to Compensate Nubians Affected by Construction of High Dam
1/10/2023 - The Cabinet Media Center said that the state spares no effort to compensate its citizens who were affected by the construction and development of the High Dam in Aswan.

In a video it publis...
Egypt Has Enough Reserves of Basic Commodities to Last Months: Supply Ministry Official
1/10/2023 - Egypt has a safe stock of all basic commodities, which will cover the country's needs for months to come, said Head of Internal Trade Sector at the Supply Ministry Abdul Moneim Khalil.

Duri...

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