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Egypt
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Politics
4/16/2022 5:39:06 PM
Egypt’s lower house of Parliament — the House of Representatives — will reconvene on Sunday, Monday, and Tuesday to discuss a new agenda packed with financial and budgetary issues.
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Business
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Economy
2/2/2022 2:54:56 PM
Egypt targets lowering the budget’s overall deficit to below 6.7 percent by end of FY2021/2022 and to below six percent in FY2022/2023, down from 7.4 percent in FY2020/21, Minister of Finance Mohamed Maait announced on Wednesday.
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Business
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Economy
1/19/2022 12:59:47 PM
Egypt’s gross local public debt increased to EGP 4.7 trillion (81 percent of the country’s GDP) by the end of FY2020/21, up from the EGP 4.3 trillion reached by the end of FY2019/20, with the government owing 87.8 percent of this total, according to the latest data published by the Central Bank of Egypt (CBE).
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Business
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Economy
12/31/2021 7:14:00 PM
The year 2021 was a challenging one for the Egyptian economy, as it saw the intersection of two fiscal years (FY2020/21 and FY2021/22) that were heavily impacted by the economic repercussions of the COVID-19 pandemic.
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Business
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Economy
11/11/2021 6:50:06 PM
Egypt is aiming to increase public investment allocations significantly in the current FY2021/22 to EGP 933 billion, up from EGP 637 billion in FY2020/21, the Ministry of Finance announced on Thursday in a report.
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Business
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Economy
8/30/2021 2:00:08 PM
The general government remains the main obligor of all debts, accounting for around 59.7 percent of Egypt’s external debt, as it rose by $11.1 billion at the end of March 2021 compared to June 2020, reaching $80.5 billion
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Egypt
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Politics
8/29/2021 6:02:25 PM
The minister also declared that it is planned to uplift the sector’s export capacity to reach $6 billion in FY2021/22, up from $3.5 billion in FY2020/21
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Business
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Economy
8/26/2021 1:56:59 PM
On the sector’s throughput, El-Said stated that it is planned to rise by 9 percent in FY2021/22 to record EGP 113 billion, up from the EGP 103.5 billion recorded in FY2020/21
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Business
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Economy
8/17/2021 2:14:50 PM
CBE estimations exceed the expectations included in Egypt's economic and social development plan for FY2021/22, which expected them to reach $30 billion by the end of the year
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Business
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Economy
7/27/2021 3:16:43 PM
During July, the IMF expected Egypt's real GDP growth to increase by 5.2% in FY2021/2022 – up from 2.8% in FY2020/21 – before rebounding slightly in FY2022/23 to reach 5.6%, which is the same percentage recorded in FY2019/20
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Business
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Economy
7/11/2021 4:00:19 PM
The data showed that Egypt’s total long-term debt edged up to $121.5 billion in Q3 of FY2020/21, up from $117.2 billion in the previous quarter and about $1 billion in the same quarter of FY2019/20
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Business
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Economy
6/8/2021 4:27:28 PM
Citing Egypt, the report noted that the country’s forecasts in FY2020/21 reflect damage to tourism, manufacturing, and oil and gas extraction from the pandemic, before strengthening again in FY 2021/22.
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Business
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Economy
6/7/2021 5:05:52 PM
Q4 results showed that the group’s revenue grew past $60 billion, exceeding the previous fiscal year by $10 billion
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Business
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Economy
6/2/2021 4:59:23 PM
Egypt’s FY2021/22 is expected to be rolled out as of 1 July with a total budget value of EGP 2.6 trillion, the biggest in Egypt’s history, increasing from a value of EGP 2.2 trillion for the current FY2020/2021 budget
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Business
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Economy
6/1/2021 12:41:11 PM
The data also showed that the government’s total external debt increased in the 2Q of FY 2019/20 to reach $77.2 billion, up from $73.1 billion in the 1Q of the fiscal year and $69.3 billion by the end of FY2019/20
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Business
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Economy
5/10/2021 2:21:35 PM
External debt grew by 4.6 percent by the end of December 2020, reaching $129.2 billion compared to the end of FY2019/20, with an increase in debt services of $7.8 billion recorded in the 1H of FY2020/21, according to the CBE
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Business
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Economy
5/4/2021 7:31:08 PM
Egypt's FY2021/22 comes amid expectations that Egypt will approach its pre-pandemic growth levels, following a notable slowdown in its real GDP growth in FY2020/21 driven by the pandemic's repercussions
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Business
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Economy
4/28/2021 2:00:03 PM
Maait said budget deficit to GDP ratio is expected to decrease to 6.7 percent, down from the projected 7.07 percent in the current FY2020/2021
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Business
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Economy
4/26/2021 6:15:09 PM
Egyptian expat remittances are expected to rise in FY2021/22 by 7 percent to record $30 billion, up from $28 billion posted in FY2020/21, according to El-Said
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Business
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Economy
4/26/2021 12:33:29 PM
In the past five years, Egypt’s GDP grew to reach EGP 5.9 trillion by the end of FY 2019/20 – up from EGP 3.4 trillion in FY 2016/17, reported the finance ministry
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