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Egyptian economy is gaining momentum: Bank of America Merrill Lynch

With the trade in Egyptian Treasury bills (T-bills) gaining ground, the witnessed drop in T-bill yields at auctions is an indication of the increasing foreign investor participation and is providing support to the USD/EGP trade with a better tone, according to Bank of America Merrill Lynch’s February insight report. The report cites the unofficial announcement …

Mohamed Samir

Annual rate of inflation hikes by 29.6%, monthly by 4.3%: CAPMAS

The annual rate of inflation hiked to 29.6% in January compared to January 2016. The rate had previously stood at an annual inflation rate of 24.3% during December 2016, according to the monthly report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS). The monthly rate recorded an increase of 4.3%, which was …

Hisham Salah

Beltone delineates Egypt’s economy over the coming 5 years

Beltone Financial issued its annual report covering the Egyptian economy, titled “the Great Recovery.” The report gave an overview of its forecasts for growth rates, budget deficit, performance of economic sectors, government plans to cut subsidy, flotation impact on the Egyptian Stock Exchange (EGX), and the expected exchange rate over the coming years. Beltone amended …

Daily News Egypt

Egypt’s economy over 6 years

There are three variables in any economy which need to be reduced: inflation, unemployment, and debt; and three others which must be increased, including investment, growth, and export. There are also some intermediate variables that contribute to achieve those six goals, such as increasing the savings which help boosting investment and fighting poverty through reducing …

Moataz Bellah Abdel-Fattah

Tough choices

At a time in which the Egyptian people are wondering where the Egyptian government is, what is the parliament doing to control the markets, and who will save them from these crazy prices? While no one is answering these questions, and no one is thinking of the people amidst all our current crises, we were …

Abdallah Al-Moghazy

Egypt’s economy: outlook and challenges in the eyes of international financial institutions 

After several years marked by turbulence and uncertainty, Egypt’s economy encountered numerous challenges, from political unrest and declining tourism, to foreign currency and fuel shortages, which led the government to adopt an economic reform programme to improve Egypt’s public finances. Between September and November 2016, authorities introduced the value-added tax law (VAT), a free-floating currency, …

Mohamed Samir

Protecting the Vulnerable During Egypt’s Economic Reform

Restoring economic stability is not easy, as Egypt’s President Sisi has said many times. The country faces three interlinked problems: an urgent balance of payments problem—which means more foreign currency has been going out the door than coming in—rising public debt, as well as low growth and high unemployment. With help from the IMF, Egypt has …

Chris Jarvis

Prospects and risks of Egypt’s ambitious economic reform programme, according to the IMF 

Since 2011, political and regional developments have taken a significant toll on the Egyptian economy. Underlying structural challenges and the prolonged political transition led to the build-up of macroeconomic imbalances. A significantly overvalued exchange rate undermined competitiveness and depleted reserves. Weak revenue, combined with poorly targeted subsidies and a growing public sector wage bill, resulted …

Mohamed Samir

Slovenia seeks economic relations with Egypt, condemns church attack: ambassador 

Relations between Egypt and Slovenia have been on a steady path in the last year. On 5 December, President Abdel Fattah Al-Sisi received his Slovenian counterpart Borut Pahor. The visit was considered the first of the Slovenian president to Egypt. The Egypt-Slovenia Business Forum was held on 6 December, where three Egyptian companies signed cooperation …

Maya Nawar

The illusion of subsidising—Part II

I have many friends who once belonged to the middle class. They did not need state subsidies because they were able to live and afford education, healthcare, transportation, etc. for their children. However, the government’s decisions came against the wish of the people. Those friends turned from belonging to a “saving” class into classes that …

Emad El-Sayed