Egypt economy
Egypt reaches agreement with IMF to receive US$5.2 billion
Economy
June 6, 2020
Egypt reaches agreement with IMF to receive US$5.2 billion
Egypt has reached a staff-level agreement with the International Monetary Fund (IMF) for a 12 month US$5.2 billion Stand-By Arrangement…
Egypt’s foreign currency reserves are still ‘safe’: CBE
Business
May 10, 2020
Egypt’s foreign currency reserves are still ‘safe’: CBE
The Deputy Governor of the Central Bank of Egypt (CBE) Ramy Aboul-Naga, announced that the nation’s foreign currency reserves are…
Egypt expects decrease in budget surplus, increase in total deficit
Economy
May 5, 2020
Egypt expects decrease in budget surplus, increase in total deficit
Egyptian Finance Minister Mohamed Maait on Tuesday reviewed the expected effects of the coronavirus crisis on the state’s draft budget…
Egypt provided LE 3.8 bn to health sector during March to fight coronavirus
Business
March 25, 2020
Egypt provided LE 3.8 bn to health sector during March to fight coronavirus
The Egyptian Finance Ministry said on Wednesday that it has provided, since the beginning of March, funds totaling LE 3.8…
CBE to cancel LE10 bn worth of debt owed by 940,000 customers
Business
March 19, 2020
CBE to cancel LE10 bn worth of debt owed by 940,000 customers
The Central Bank of Egypt will cancel around LE 10 billion in debt owed to banks by 940,000 customers, as…
CBE ramps up measures to support Egypt’s economy amid coronavirus pandemic
Business
March 17, 2020
CBE ramps up measures to support Egypt’s economy amid coronavirus pandemic
The Central Bank of Egypt (CBE) has ordered local banks in the country not to impose additional fines applied to…
Gold prices jump in Egypt as coronavirus fears weigh on global economy
Business
March 9, 2020
Gold prices jump in Egypt as coronavirus fears weigh on global economy
The price of gold made a record jump in the Egyptian market on Monday by about LE 4, a result…
Central Bank of Egypt keeps overnight interest rates unchanged
Business
February 21, 2020
Central Bank of Egypt keeps overnight interest rates unchanged
The Monetary Policy Committee of the Central Bank of Egypt decided, at its meeting on Thursday, to keep important interest…
Egypt’s economy to become sixth strongest in the world by 2030
Economy
February 20, 2020
Egypt’s economy to become sixth strongest in the world by 2030
Economist Talal Abu Ghazaleh, Chairman of Talal Abu-Ghazaleh International Organization, said that Egypt’s economy is set to become the sixth…
Egypt tops list of countries exporting oranges for second year in a row
Business
February 20, 2020
Egypt tops list of countries exporting oranges for second year in a row
Egypt has topped the list of countries that export oranges for the second year in a row, with exports totaling…