Latest in Highlight
A significant decline in the telecommunication services costs in Q4 compared to Q3 of 2016
Pharos Holding’s FCI has revealed that the GDP decline was expected, given the decline in sales volume in several economic sectors
Growth expected to accelerate to 4.6% in FY 2017/2018 and 5.3% in FY 2018/2019
The company expects the economy to expand at a more moderate pace of 3.0% in fiscal year 2017, 3.8% for 2018
Experts believe there are no other options but to ask for more loans, while national and foreign debt is equally dangerous
Foreign debt reached 37.6% of GDP in December 2016 compared to 13.6% in December 2015
EGP 73.9bn for fuel subsides, and EGP 33.2bn for pension funds
Positive indicators reflect ministry’s strategy to promote development until 2020: Kabil
The local and international relations between different political forces are always controlled by power centres. States are no longer the only international political entities; today, large corporations and international non-governmental organisations—usually backed by powerful countries—also have international influence because of their huge financial capabilities, some of which easily exceed numerous countries’ budgets and GDPs. This …
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 …
Large projects and the improved climate for investment will increase economic growth, exports, and foreign trade growth, says Minister of Planning
The US economy slowed sharply at the end of 2016 as a plunge in shipments of soybeans weighed on exports. But steady consumer spending and rising business investment suggest the economy will continue to expand.
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 …
Egypt’s economy will grow by 4% during this FY, says Planning Minister
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.
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 …
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 …
We target to increase private investment from EGP 43bn to nearly EGP 100bn by 2020, says minister
The government targets reaching 6% growth in GDP next year, increasing investments by 19%, says minister
Britain’s vote to leave the European Union will have a negative impact on gross domestic product in Germany, a survey by an economic think tank has predicted.
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, …
Egyptian pound expected to reach 11.30 to $1 by the end of FY 2016/2017, says FocusEconomics
The devaluation of the Egyptian pound in March put upwards pressure on the already high inflation rate
The government successfully controls the subsidies and salaries bills, but fails to handle the interest on government debt
Small- and medium-sized enterprises (SME) may be the best solution for Egypt’s poor economic state. SMEs have the ability to provide a large number of jobs to subdue unemployment and produce important products. In May, the executive manager of the Egyptian Banking Institute (EBI) Mona El-Baradei said that the number of SMEs in Egypt constitutes …
EGP 13.8bn total investments in the sector over three months
Forward exchange rate is expected to register 11.20 in Q4 2016, says Bank of America
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.
US dollar exchange rate expected to increase to EGP 10.19 by the end of 2017 and EGP 13.10 by the end of 2020, says FocusEconomics
SEMAF delivered 11 air conditioned stainless steel metro carriages for the ERA