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Business - Markets & Companies
8/22/2022 3:10:44 PM
The Central Agency for Public Mobilization and Statistics (CAPMAS) said Sunday that the UAE investments in Egypt have leapfrogged by 169 percent during the first half of Fiscal Year 2021-2022, reaching $1.9 billion, up from $712.6 million during the same period in 2020-2021.

Business - Economy
8/11/2022 9:54:14 PM
The Central Bank of Egypt (CBE) said that the domestic liquidity rose by EGP 1.059 trillion to register EGP 6.416 trillion, with an increase of 19.8% in July-April of the 2021/2022 fiscal year.

Business - Economy
8/4/2022 10:22:33 PM
Egypt enjoyed a significant increase in revenue from tourism and transport receipts as well as a modest increase from workers’ remittances through the third quarter of the previous fiscal year, according to data released by the Central Bank of Egypt (CBE) on Thursday.

Business - Economy
7/31/2022 5:42:39 PM
Remittances sent by Egyptian expats went up 2.1 percent year on year in the first 11 months of the past 2021/2022 fiscal year, recording $29.1 billion, the Central Bank of Egypt (CBE) announced on Sunday.

Egypt - Urban & Transport
7/14/2022 5:31:31 PM
Egypt is expected to spend EGP 55 billion in annual diesel subsidies during the fiscal year FY 2022/23 after the government’s Wednesday decision to raise diesel prices for the first time in 30 months by EGP 0.5 per litre, Prime Minister Mostafa Madbouly has said.

Business - Economy
7/10/2022 5:33:24 PM
Egyptian Minister of Finance Mohamed Maait said on Sunday that EGP 356 billion of the fiscal year (FY) 2022/23 budget has been allocated for social protection and subsidization, while another EGP 400 billion will go for improving conditions of public employees including wages and compensations.

Egypt - Society
6/26/2022 5:40:15 PM
The National Programme for Community, Human, and Local Development, Mashrouak (“Your Project”) contributed to establishing 20,000 projects across the country, with loans amounting to about EGP 3.6 billion during the fiscal year 2021/2022, Minister of Local Development Mahmoud Shaarawy stated on Sunday.

Egypt - Politics
6/24/2022 12:58:12 PM
Though the majority of MPs approved the new budget, four parties issued a statement on Wednesday criticising it for excessive foreign borrowing and lack of fiscal discipline or austerity measures that could help contain the negative economic impact of the Russia-Ukraine war.

Business - Economy
6/21/2022 8:55:57 PM
Egypt needs to import five million tons of wheat for the fiscal year 2022/23, Egyptian Minister of Supply Ali Moselhi told Reuters on Tuesday.

Business - Economy
6/7/2022 8:34:04 PM
The World Bank (WB) expects the Egyptian economy to grow from 5.9 percent to 6.1 percent in the fiscal year (FY) 2021/22.

Egypt - Politics
5/30/2022 7:01:52 PM
The Russia-Ukraine crisis has led to Egypt’s projected growth rate being downgraded to 6 percent at the end of the current fiscal year and to an expected 5.7 percent in FY2022/23, Minister of Planning and Economic Development Hala El-Said said in a statement before the Senate – Egypt's consultative upper house.

Business - Tech
5/26/2022 3:17:43 PM
Chinese e-commerce giant Alibaba said Thursday its profit fell 59 percent in the last fiscal year, joining other tech firms that reported lacklustre results while grappling with Covid-19 restrictions and a sector crackdown.

Business - Economy
4/20/2022 5:56:58 PM
The global rise in food prices is a major challenge for Egypt amid supply chain disruptions and the Russian war in Ukraine, Deputy Director of the Fiscal Affairs Department at the International Monetary Fund (IMF) Paolo Mauro told Ahram Online during a press briefing.

Al-Ahram Weekly - Economy
4/20/2022 4:06:00 PM
Division Chief in the IMF’s Fiscal Affairs Department Paolo Medas explains how the crisis in Ukraine could affect food prices and debt levels in Egypt and the Middle East region to Al-Ahram Weekly.

Business - Economy
4/19/2022 8:16:45 PM
The Russia-Ukraine conflict is having economic repercussions on Egypt including rising financial needs, an elevated rate of inflation, and limited fiscal space, the assistant director of monetary and capital markets at the International Monetary Fund (IMF) Ranjit Singh told Ahram Online.

Business - Economy
4/14/2022 5:47:57 PM
The World Bank (WB) has maintained Egypt’s real GDP growth at 5.5 percent in fiscal year (FY) 2021/2022, downgrading its forecast for FY 2022/2023 to five percent, down from 5.5 percent expected in January.

Egypt - Society
2/27/2022 2:44:09 PM
Egypt has begun converting 377 diesel powered public buses in Cairo and Alexandria to run on natural gas during the current fiscal year at a total cost of EGP 200 million, Minister of Local Development Mahmoud Shaarawy said on Sunday.

Business - Economy
2/21/2022 6:19:41 PM
Egypt’s GDP is expected to grow to post EGP 7.9 billion by the end of the current FY2021/22, up from the EGP 4.8 trillion recorded in FY2017/18 and EGP 4.4 trillion recorded in previous fiscal years, the Ministry of Planning and Economic Development announced on Monday.

Business - Energy
2/10/2022 3:51:33 PM
Egypt's natural gas exports are expected to rise to 7.5 million tonnes by the end of 2021/2022 fiscal year, Minister of Petroleum and Mineral Resources Tarek El-Molla said on Thursday.

Egypt - Politics
1/18/2022 5:13:24 PM
Egyptian President Abdel-Fattah El-Sisi issued a directive on Tuesday to the finance ministry to raise the minimum wage for public sector employees from EGP 2,400 to EGP 2,700 in the state budget for the fiscal year 2022/23, the presidency announced.

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