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Europe’s financial ministers have agreed to move towards unprecedented sanctions against Spain and Portugal for overshooting EU deficit limits. Both countries then immediately set out to convince the EU to reconsider.
The International Monetary Fund (IMF) has called on Italy to launch urgently needed economic reforms to accelerated anemic growth and head off a looming crisis in its financial industry.
Egypt’s informal economy has grown as a result of dysfunctions in the formal economy, which lacks dynamism, flexibility, and resilience
$50bn worth of tax conflicts will be resolved through the new tax reconciliation law
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.
Investors are facing challenges and we are working to fix them, says investment minister
The agency rating evaluates Egypt’s high fiscal deficit, low foreign reserve coverage, and recent volatile political history, with low external debt being levelled against gradual progress in implementing an economic and fiscal reform programme
The GDP is expected to be $311bn in FY 2015/2016 and to reach $327bn in FY 2016/2017, says the report
GDP to grow 3.9% in FY 2016/2017, says report
Close relationship between democracy, achieving high economic growth but only where complete democracy is practised, says chief economist
The investment bank estimated that GDP growth will not exceed 3.4% while it predicted that the budget deficit will register 11.3% of GDP
Electronic payments added $10m to Egypt’s GDP and created 2,300 jobs per year from 2011-2015
In its January report, FocusEconomics lowered the GDP forecast to 3.6%, after it predicted a rate of 3.8% in its December report. Additionally, the company expects Egypt’s GDP growth rate for the fiscal year 2017 to reach 4.2%
Only 8% of total financing in Arab banks goes to SMEs
Policymakers around the world still face enormous challenges in stimulating investment after the economic crisis
Monetary Policy Committee increased pound’s interest rate to counter inflationary pressures
The Chinese economy this year has been marked by slackening growth and a stock market meltdown. But the Asian giant also scored successes in its attempts to become a major global financial player.
Human Development Index ranks Egypt 108th in its 2015 report
Economic hurdles such as poverty and shortage of skilled workers will slow sector’s growth
The value per share reached €15.2 after company’s CEO announced that he expected investments worth 6bn to $10bn for development of field
Real GDP growth reached 4.7% in first three quarters of FY 2014/2015, increasing from 1.6% during same period of previous year
Tourism sector grows 34.6% in first 9 months of last fiscal year
Egypt ranks 109th globally in world’s wealthiest/poorest countries list, with GDP per capita being equivalent to $6,650
Egyptian government is aiming to achieve better results in upcoming three years, says Salman
Growth in emerging markets and developing countries will reach 4.2% in 2015, down from 4.6% in 2014, expects IMF
Total debt interest for local and foreign loans in state budget draft for FY 2015/2016 amounts to 244bn, with an increase of 25.1%, statement says
Uncertainty still surrounds the financing of mega-projects, World Bank said
The World Bank expects increase of economic growth in Egypt to reach 4.5% by 2017
Decision will likely lead to matching Fitch’s assumptions on the deficit of reaching 11.1% of GDP by end of this FY instead of the 10.8% targeted by government