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Business
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Economy
4/23/2024 7:05:48 PM
Egypt’s total budget deficit for the upcoming FY2024/2025 will widen to EGP 1.2 trillion, equivalent to 7.2 percent of the country’s GDP, up from an estimated EGP 555 billion (or four percent of the GDP) in the current FY2023/2024, the Ministry of Finance said in its budget financial statement on Tuesday.
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Business
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Economy
4/18/2024 8:55:57 PM
Egypt’s overall debt to GDP is expected to decline to 82.6 percent of GDP in 2025, from over 90 percent in 2024, and will continue to shrink under the country's loan program with the International Monetary Fund (IMF), the Director of the Middle East and Central Asia Department at the IMF, Jihad Azour, told Ahram Online.
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Opinion
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4/18/2024 7:56:23 PM
Since the onset of the COVID-19 pandemic, the developing world has faced growing public-sector debt vulnerabilities.
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Business
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Economy
4/18/2024 6:51:07 PM
The war in Gaza, Red Sea shipping disruptions, and oil production cuts have exacerbated the high debt and the elevating borrowing cost issues in the Middle East and North Africa (MENA) region, including Egypt, the International Monetary Fund said on Thursday.
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Business
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Economy
4/18/2024 3:29:41 PM
Egypt is committed to reducing the debt-to-GDP ratio to below 80 percent by 2027 through a series of integrated measures, Minister of Finance Mohamed Maait stated.
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Business
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Economy
4/17/2024 6:45:00 PM
Egypt’s external debt is projected to rise during the current FY2023/2024 due to the depreciation in the exchange rate, Era Dabla-Norris, the Deputy Director of the Fiscal Affairs Department at the International Monetary Fund (IMF), told Ahram Online.
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Business
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Economy
4/17/2024 3:12:29 PM
Global debt is projected to increase to close to 100 percent of GDP by 2029, driven mainly by the increasing debt levels in the large economies, including China, Italy, the United Kingdom, and the US, with policy action needed to address fundamental imbalances between spending and revenues, according to the Fiscal Monitor Report released on Wednesday.
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Al-Ahram Weekly
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Opinion
4/16/2024 5:54:53 PM
While the US and Japan have seen signals of economic recovery, other countries are mired in meagre financing, increasing debt, declining investment, and geopolitical conflicts, writes Mahmoud Mohieldin
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Business
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Economy
4/9/2024 12:44:00 PM
The budget initial surplus has jumped over 8.5 folds during the first nine months of the current fiscal year (FY) 2023/2024 to EGP 416 billion (three percent of GDP), compared to EGP 50 billion (0.5 percent of GDP) in the same period of FY2022/2023, Minister of Finance Mohamed Maait announced on Monday.
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Opinion
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4/8/2024 10:41:39 PM
CAMBRIDGE – “All animals are equal, but some animals are more equal than others,” George Orwell famously wrote in Animal Farm, his allegory of Stalinism.
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Sports
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Omni sports
3/26/2024 4:37:58 PM
The Paris Olympics this year are expected to cost the state between 3-5 billion euros ($3.2-5.4 billion), the French national auditor said Tuesday as new figures revealed the country's widening debt levels.
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Business
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Economy
3/19/2024 5:30:59 PM
Minister of Finance Mohamed Maait said the state is placing a stringent ceiling of EGP 1 trillion on public investments in the upcoming fiscal year 2024/25, while also capping public debt.
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Al-Ahram Weekly
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Opinion
3/19/2024 3:16:36 PM
Recent sharp fluctuations in international interest rates have posed tough challenges for the developing economies, with many now threatened by a vicious debt crisis that could leave them with crippling costs, writes Mahmoud Mohieldin
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Business
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Economy
3/18/2024 10:36:03 PM
Across the United States, many people are eagerly anticipating the Federal Reserve's first cut to its benchmark interest rate this year: Prospective home buyers hope for lower mortgage rates. Wall Street traders envision higher stock prices. Consumers are looking for a break on credit card debt at record-high interest rates.
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Business
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Economy
2/19/2024 1:43:12 PM
The Ministry of Finance will submit a Tax Policy Strategy for Egypt 2024/2030 document to the National Dialogue next week, Minister of Finance Mohamed Maait said in a statement on Monday.
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Al-Ahram Weekly
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Opinion
1/30/2024 9:34:52 PM
Gamal Wagdy advises against securitising dollar revenues from Egypt’s main hard-currency earners like the Suez Canal
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Business
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Markets & Companies
1/29/2024 11:35:32 PM
A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden.
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Business
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Economy
1/28/2024 6:19:56 PM
The Central Bank of Egypt (CBE) is set to issue EGP 130 billion treasury bills (T-bills) on Tuesday with four different maturities between April 2024 and January 2025.
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Business
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Economy
1/21/2024 2:09:18 PM
Egypt-listed Maridive and Oil Services announced that its subsidiary Ocean Marine UAE is finalizing a deal to sell a $40 million marine unit to settle a part of a $45.5 million debt to banks, according to a bourse statement on Sunday.
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Business
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Economy
1/14/2024 8:17:07 PM
Egypt’s short-term external debt reached an all-time high at around $30.27 billion in the first quarter of the fiscal year (FY)2023/2024 – July/September – up from $28.15 billion in the previous quarter, according to data released on Sunday by the Central Bank of Egypt (CBE).
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