Egypt economy
Egypt's President Sisi met with officials to discuss Suez Canal's exceptional Q1 performance, with record daily traffic and a 35% revenue surge.
Egypt's foreign trade has recorded $78.4 billion from January to October 2018, compared with $67.09 billion in the same period of 2017.
Egypt has exerted great efforts in terms of the development process and legislative reforms which contributed to improving the investment climate, Mahmoud Mohieldin.
The central bank announced earlier that Egypt’s foreign reserves had increased by $100 million by the end of March 2018.
IMF's Mission Chief for Egypt Subir Lall told Egypt Today that the country needs further reforms to bolster its private sector and job creation.
Egypt will have the best economic performance in 2018 among other markets in the Middle East and North Africa region, according to an EFG-Hermes survey.
With a vision to reach a 21% growth rate by 2020, the industrial sector is full-speed ahead toward development.
Removing all fuel subsidies except for LPG by FY 2018/19 and will shield the budget from fluctuations in oil prices, IMF's regional director told Egypt Today
The fund forecasts Egypt economy to expand further to 4.8 percent in 2017/18 and to 6 percent in the medium term.
Egypt’s economic growth will be boosted by ongoing reforms and improved business climate, the World Bank predicted in a Wednesday report.
The International Monetary Fund (IMF) announced it has reached a staff-level agreement with the Egypt on the second review of its economic reform program.
Through the line, Banque Misr will receive the agreed-on cash to finance the export processes of the Arab commodities with no less than 30 percent.
Egypt is keen on keeping the external debt within “safe limits” as it is related to what the economy produces, the minister said.
The deals aim to support the government of Egypt's economic reforms, Sustainable Development Plan 2030 and private sector led growth and job creation.
The duties will increase on the rebar iron imported from China, Turkey and Ukraine.
Local consumption of oil and natural gas also saw an increase to 6.8 million tons year-on-year in July.
Turnover increased to LE 1.28 billion, up from LE 1.13 billion Monday, while traded volume leveled up to 576.7 million shares.
The National Bank of Egypt accumulated LE 330 billion from the “Platinum” certificates with interest rates of 16 and 20 percent in 11 months
AMOC is waiting for the approval of the Egyptian General Petroleum Corporation (EGPC) to buy condensates from the UAE’s Dana Gas, the chairman said.
Egypt has all the potential to become an energy hub, and exerts great efforts to develop this potential, in order to enable countries to rely on Egypt, Molla said.
