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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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World
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International
4/23/2024 5:36:07 PM
Britain will raise defence spending to 2.5 percent of GDP by 2030 in a "most dangerous" world, Prime Minister Rishi Sunak said Tuesday during a visit to Poland.
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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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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 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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Business
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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.
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Business
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Economy
4/16/2024 4:09:00 PM
The International Monetary Fund (IMF) has maintained its projection for Egypt’s real GDP growth in 2024 at three percent, declining by 0.8 percent compared to the estimation of 2023.
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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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Business
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Economy
3/12/2024 3:00:39 PM
Egyptian government targets a primary surplus of 3.5 percent in its GDP in the upcoming fiscal year (FY) 2024/2025, Minister of Finance Mohamed Maait announced on Tuesday.
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Business
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Economy
1/31/2024 6:55:56 PM
Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), told Ahram Online that Egypt's GDP growth rate could increase by 5-6 percent if the government allows the private sector to play a leading role in Egypt's economy and reconsiders the role of the public sector.
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Business
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Economy
1/31/2024 3:28:49 PM
As Egypt is facing a tough economic situation, various global economic institutions have given different projections for Egypt's real GDP growth in 2024.
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Business
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Economy
1/30/2024 6:21:03 PM
Egypt’s real GDP growth is expected to recover, reaching 4.7 percent, in the upcoming fiscal year (FY) 2024/2025, backed by the financing and policy package set by the International Monetary Fund (IMF), Daniel Leigh, a division chief at the IMF’s Research Department, told Ahram Online (AO).
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Business
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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.
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Al-Ahram Weekly
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Egypt
1/23/2024 10:35:08 PM
Foreigners are to be allowed to buy real estate in Egypt in foreign currency in exchange for residency in order to boost the country’s currency reserves, reports Safeya Mounir
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Business
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Economy
1/23/2024 3:01:57 PM
Egypt’s budget deficit rose to 5.51 percent of GDP between July and November 2024 from 3.37 percent during the same period last year, according to data released by the Ministry of Finance.
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Business
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Economy
1/18/2024 2:17:16 PM
Egypt’s budget deficit recorded 4.95 percent of GDP during the first half (H1) of FY 2023/2024, July-December 2023, said Minister of Finance Mohamed Maait.
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Business
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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.
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Business
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Economy
1/9/2024 10:55:54 PM
The World Bank downgraded its forecasts for Egypt’s real GDP growth for 2024 to 3.5 percent from 3.7 percent in a previous estimate, according to the Global Economic Prospects report released on Tuesday.
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Business
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Economy
1/9/2024 5:00:32 PM
The Egyptian government launched in January a comprehensive eight-direction economic strategy for the period 2024-2030, the document of which tackles several aspects of economy and quality of life.
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