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" FY2023 2024"

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Business - Economy
7/17/2024 8:55:25 PM
Egypt’s budget has achieved an initial surplus of EGP 857 billion in the FY2023/2024, which ended on 30 June, compared to EGP 164 billion in the previous year, marking a 422 percent increase, Minister of Finance, Ahmed Kouchouk, stated on Wednesday.

Business - Economy
7/16/2024 6:53:51 PM
The International Monetary Fund has revised down its projection for Egypt’s real GDP growth by 0.3 percent in both the recently concluded FY2023/2024 and the current FY2024/2025 to 2.7 percent and 4.1 percent, respectively, according to an update to its World Economic Outlook (WEO) report released on Tuesday.

Business - Economy
7/8/2024 7:43:59 PM
Revenues from Egypt’s Suez Canal shrank by 57.2 percent in the third quarter (January-March) of the FY2023/2024, which ended on 30 June, due to a drop in transit receipts, revealed a statement on the country's current account performance by the Central Bank of Egypt (CBE) on Monday.

Business - Economy
6/23/2024 7:53:07 PM
The value of e-payment and collection services in Egypt grew by 19 percent to EGP 2.5 trillion during the first 11 months of the current FY2023/2024, which ends on 30 June, up from EGP 2.1 trillion during the corresponding period of the previous FY2022/2023, Egypt’s Minister of Finance Mohamed Maait said in a statement on Sunday.

Business - Economy
5/24/2024 1:11:00 PM
The Central Bank of Egypt (CBE) decided to keep the current key interest rates unchanged in its Monetary Policy Committee (MPC) meeting, the last in FY2023/2024, held on Thursday.

Business - Economy
5/23/2024 12:10:00 PM
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will convene Thursday to decide on key interest rates for the last time in FY2023/2024, amid expectations that it will maintain the current interest rates as inflation rates have started to take a downward path over the past two months.

Business - Economy
5/7/2024 5:25:15 PM
Revenues from Egypt’s tourism sector and Suez Canal in the current FY2023/2024, which ends on 30 June, and the upcoming FY2024/2025 could shrink by up to $13.7 billion the United Nations Development Program (UNDP) said in a new study.

Business - 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.

Business - 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.

Business - Economy
4/16/2024 7:12:57 PM
Egypt’s real GDP growth is expected to slow down to 2.8 percent in the current FY2023/2024, which ends on 30 June, before rebounding to 4.2 percent in the FY2024/2025 according to the MENA Economic Update released by the World Bank on Monday.

Business - 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.

Business - Economy
1/30/2024 3:06:10 PM
The International Monetary Fund (IMF) has downgraded its forecasts for Egypt’s real GDP growth in the current FY2023/2024 to three percent, down from the 3.6 percent it projected in October, according to the updated World Economic Outlook (WEO) report released on Tuesday.

Business - Economy
1/15/2024 7:43:32 PM
Egypt’s real GDP growth rate slowed to 2.65 percent in the first quarter of the fiscal year 2023/2024 from 4.4 percent in the same quarter of FY2022/2023 (July-September), according to data released by the Ministry of Planning and Economic Development on Monday.

Business - 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).

Business - Economy
1/3/2024 8:52:21 PM
Remittances from Egyptians working abroad dropped 29.22 percent to $4.52 billion in the first quarter of the fiscal year 2023/2024 (July-September) from $6.39 billion in the same period a year earlier, according to data released by the Ministry of Planning.

Business - Economy
12/6/2023 2:02:02 PM
Egypt’s budget deficit will increase by one percent in the fiscal year (FY) 2023/2024 to account for 7.1 percent of GDP, up from 6.1 percent in FY2022/2023, due to the increase in debt service payments, according to a report by Investment bank HC Securities and Investment on Wednesday.

Business - Economy
11/16/2023 10:42:04 AM
The Egyptian government increased investments in the agriculture and irrigation sector by 71 percent year-on-year (YoY) to EGP 116.6 billion ($3.77 billion) for the fiscal year (FY) 2023/2024, according to a report by the Ministry of Planning and Economic Development on Wednesday.

Business - Economy
11/13/2023 5:40:00 PM
Egypt’s total budget deficit reached 3.2 percent of GDP or more than EGP 383 billion ($12.4 billion) during the first two months (July and August) of FY2023/2024, according to the Ministry of Finance’s monthly report.

Business - Economy
11/8/2023 9:04:01 PM
Egypt seeks to collect additional revenue of EGP 70 billion ($2.27 billion) from its privatization programme during the fiscal year (FY) 2023/2024, according to a recent book released by the Cabinet’s Information and Decision Support Center (IDSC) on Wednesday.

Business - Economy
10/30/2023 5:43:56 PM
The Egyptian government is planning to create around 800,000 new jobs during the fiscal year 2023/2024, according to a report by the Ministry of Planning and Economic Development on Sunday.

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