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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

We aim to reduce government investment as a share of GDP: El-Araby

Minister of Planning Ashraf El-Araby said that the government aims to reduce government investment as a share of the gross domestic product (GDP) within its plan to control government spending and tackle the budget deficit. The government’s investment allocations amounts to EGP 150bn (equivalent to 4.4% of GDP) in the budget of the current fiscal year (FY), compared …

Daily News Egypt

China GDP slows as growth risks mount

In 2016, China recorded its slowest rate of growth in more than a quarter of a century, as the world’s second largest economy struggles to restructure amid explosive growth in debt and fears of protectionism.

Deutsche Welle

Egypt’s GDP growth rate expected to fall to 4% in 2017: World Bank

In its report “Global Economic Prospects”, the World Bank stated that among oil-importing economies, growth in Egypt has slightly declined to 4.3 % in fiscal year (FY) 2016. This comes as a result of foreign currency shortages which feed manufacturing and a decline in tourism after the crash of a Russian aeroplane in the Sinai …

Mohamed Samir

Does Egypt’s economic targets line up with its economic reality?

Minister of Finance Amr El-Garhy had said on Sunday that the ministry has set three goals for the country’s budget in the fiscal year (FY) 2017/2018. According to him, the ministry plans to focus on sustainable development, by raising the GDP by 5%, reducing unemployment to 11%, and cutting the national debt to 94% of …

Hisham Salah

External debt: a tricky, dangerous route towards reform

Egypt’s negotiations for loans from the International Monetary Fund, World Bank, and the African Development Bank would increase the country’s external debt to approximately $70bn. Yet, the government views the loans as a way for reforming poor economic conditions that have plagued the country since 2011, and a tool to attract foreign investment.   Essentially, …

Hisham Salah

German economy logs moderate growth

While losing some of its previous momentum, the German economy is still in a robust state, logging higher-than-expected growth in the second quarter. Exports and private consumption were behind the expansion.

Deutsche Welle

Germany sticks to balanced budget policy

The German government has said Europe’s powerhouse will not move away from its budgetary policy of zero fresh borrowing, Brexit or not. It’s Berlin’s way of sending a “signal of continuity,” but not everyone is amused.

Deutsche Welle