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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

What are the challenges facing the Egyptian economy in the eyes of dealers?

Chief financial officers and heads of treasury sectors at banks (dealers) are facing the economic crisis more than anyone else. Thanks to the nature of their work, they realise what is happening in the global economies and the challenges facing them. In Egypt particularly, dealers play an important role in employing banks’ liquidity in local …

Hossam Mounir

How uncertainty managed to negatively affect the Egyptian economy

By Mohammed Nosseir Egypt is in need of a coherent economic vision complemented by explicit economic policies. Undermining both, or using economic initiatives as substitutes and surprising citizens with an assortment of mega investment projects (even if they are beneficial) will not do our country any good. In a very short period, Al-Sisi has managed …

Daily News Egypt

Fitch Ratings announced today that it expects a further delay in the agreement between Egypt and the International Monetary Fund (IMF) to secure a much sought-after $4.8bn loan (AFP Photo)

Fitch expects delay in IMF deal

The global credit rating agency announced today that it expects a delay to the agreement between Egypt and the IMF to secure a $4.8bn loan due to extended parliamentary elections and an opposition boycott

Daily News Egypt

Egypt’s broken economy

By Mohsin Khan WASHINGTON, DC: Egyptians’ political aspirations have dominated the country’s public life since the fall of President Hosni Mubarak last year. Unfortunately, as those aspirations are addressed, the economy has entered a steep decline, jeopardizing one of the revolution’s main goals, namely improvement in Egyptians’ living standards and welfare. Indeed, the populist rhetoric of …


Egypt faces economic dangers, yet has unexploited opportunities, say economists

By Amir Makar CAIRO: Bad management in the face of chronic woes and natural outcomes of the social uprising summarize the current situation in Egypt, believe a panel of distinguished economists, who offered education and human development as leading rescues out of the quagmire. Renowned economist and American University in Cairo professor emeritus Galal Amin classified …


Egypt core inflation 7.3 pct in February

By Reuters CAIRO: Egypt’s core consumer price inflation quickened to 7.3 percent in the 12 months to February from 6.86 percent in January, the central bank said on Sunday. Core inflation strips out subsidized goods and volatile items including fruit and vegetables. The state statistics agency CAPMAS said on Saturday that urban consumer price inflation, …