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Business
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Economy
2/16/2023 10:48:02 AM
The European Bank for Reconstruction and Development (EBRD) has downgraded its forecasts for Egypt’s output growth in 2023 to 4.3 percent, down from five percent it projected in May, before bouncing back to five percent in 2024, according to the bank’s update on the Regional Economic Prospects Report the bank issued on Thursday.
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Business
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Economy
2/15/2023 1:29:46 PM
Egypt’s external debt receded in the first quarter (1Q) of FY2022/2023 (July-September 2022) to $154.9 billion, down from $155.7 billion at the end of FY2021/2022, reported the Central Bank of Egypt (CBE).
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Business
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Economy
2/13/2023 4:47:27 PM
Egypt is keen to continue enhancing its structural fiscal and monetary policy reforms and maximising the role of the private sector in the economy, President Abdel-Fattah El-Sisi told the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.
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Business
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Economy
2/13/2023 2:39:38 PM
Egypt is adopting an economic reform trajectory that contributes to supporting its financial discipline and decreasing debt to GDP ratio and budget deficit, Minister of Finance Mohamed Maait told the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on Monday.
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Business
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Economy
2/12/2023 4:00:29 PM
Egypt’s government is helping manage many fiscal risks it is experiencing, including from public guarantees and losses by state-owned enterprises, which could destabilise debt and require drastic cuts to vital spending, the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva said on Sunday.
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Business
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Economy
2/8/2023 1:50:02 PM
Egypt intends to initiate the first stage of the initial public offering (IPO) programme under its new loan agreement with the International Monetary Fund (IMF) in March before the completion of the programme's first review, a source close to the cabinet’s discussions told Ahram Online.
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Business
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Economy
2/6/2023 6:04:45 PM
Egypt’s real GDP growth is expected to moderate to three percent in 2023 with a higher inflationary wave anticipated over the year, Fitch Solutions said in its MENA Monthly Outlook report shared with Ahram Online.
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Business
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Energy
2/6/2023 5:21:45 PM
Egypt’s government intends to announce within days a hike of fuel prices within the legal 10 percent increase, a source inside the Fuel Automatic Pricing Committee (FAPC), which reviews fuel prices quarterly, told Ahram Online.
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Business
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Economy
2/1/2023 2:12:56 PM
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is scheduled to convene on Thursday, the first meeting in 2023, to review the key interest rates in light of the recent updates in the country’s macroeconomy.
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Business
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Economy
1/31/2023 10:54:58 PM
Lebanon from Wednesday will shift its long-standing official exchange rate to 15,000 pounds against the dollar, a central bank source said -- an almost 90 percent devaluation amid a years-long economic crisis.a
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World
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Region
1/29/2023 11:05:42 PM
Just 11.3 percent of Tunisians voted Sunday in a second-round poll for a toothless parliament, according to initial figures announced by the electoral board, as the politically divided nation grapples with economic woes.
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Business
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Economy
1/26/2023 3:46:50 PM
The Pakistani rupee dived to a historic low against the US dollar on Thursday after an exchange cap was lifted as Islamabad campaigns to unlock a vital bailout from the IMF.
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Business
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Economy
1/16/2023 5:54:53 PM
Egypt has received $925 million in indirect investments in local debt instruments since Wednesday, increasing the country’s reserves of hard currency in addition to an increase from the local market, Egyptian expats remittances, and the tourism sector, the Central Bank of Egypt said on Monday.
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Business
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Economy
1/15/2023 5:37:10 PM
Egypt aims to bridge its financing gap through FY2025/26 mainly by selling state-owned assets, including to member states of the Gulf Cooperation Council, according to a staff report the International Monetary Fund (IMF) released last week on Egypt’s new IMF-backed $3 billion loan deal.
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Business
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Economy
1/15/2023 5:28:26 PM
Egypt’s cabinet is set to announce this week a new five-year initiative to fund industrial and agricultural projects with loans at an 11 percent interest rate.
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World
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International
1/13/2023 1:41:29 PM
Bankrupt Sri Lanka will drastically slash its military, the defense ministry said Friday, as the government works to overhaul its shambolic finances after an unprecedented economic crisis.
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Business
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Economy
1/12/2023 4:57:00 PM
The International Monetary Fund (IMF) announced on Tuesday the details of its new 46-month loan programme for Egypt and its government commitments in a staff report.
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Al-Ahram Weekly
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Egypt
1/11/2023 4:15:00 PM
Action is being taken to protect the local currency, but this may not help to rein in inflation.
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Al-Ahram Weekly
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Egypt
1/11/2023 4:14:00 PM
The government is braced to absorb continuing economic shocks as the new year progresses.
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Business
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Economy
1/10/2023 9:59:00 PM
Egypt is set to receive the second tranche of the $3 billion loan it secured from the International Monetary Fund (IMF), estimated at around $347 million, by the end of March, following the completion of the first review of the loan programme, the IMF Mission Chief for Egypt, Middle East and Central Asia Department Ivanna Vladkova Hollar said on Tuesday.
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