Finance News
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Egypt records highest-ever primary surplus in FY24/25
Egypt recorded its highest-ever primary budget surplus in the 2024/25 fiscal year, equivalent to 3.6 percent of GDP.
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FinMin announces domestic sukuk launch in FY2025/2026
The announcement was made during a panel discussion hosted by Al Ahly Pharos Securities Brokerage.
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Hassan Abdalla named CBE governor for third term
President Abdel-Fattah El-Sisi has renewed Hassan Abdalla’s mandate as acting governor of the Central Bank of Egypt (CBE) for a third consecutive term
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El-Sisi directs efforts to increase dollar inflows, support economic growth
A steady flow of foreign currency is crucial for securing a reliable supply of essential goods, petroleum products, and manufacturing inputs.
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Egyptian Exchange Releases Its First Mobile App
The Egyptian Exchange launches its first mobile app, offering real-time market data, news, and community forums. Currently in beta on Android.
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Egypt posts record primary budget surplus of LE 629B in FY2024/25
Egypt achieved a record LE 629 B primary surplus (3.6% of GDP) in FY 2024/25, driven by tax hikes, revenue growth, and private investment gains.
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FRA issues Basel III-based solvency standards for non-banking finance sector
Egypt’s FRA mandates Basel III-aligned solvency rules for non-banking finance firms, phased in from Jan 2026, full rollout by Jan 2027.
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Egypt’s unemployment rate eases to 6.1% in Q2 2025
Egypt's unemployment rate falls to 6.1% in Q2 2025, as labor force grows to 33.6 M and employment rises while jobless numbers drop.
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Egypt’s Foreign Exchange increases despite Suez Canal income drop
Suez Canal revenues have been affected by tension in the Red Sea in the past two years.
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Egyptian Banks Raise Traveller Cash Limit to USD 10,000
Major banks have raised the traveller withdrawal limit to USD 10,000, lowered credit card foreign currency fees, and lifted travel verification.
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Egypt PM defends plan to offer state-owned lands for private investment
We have assets that are abandoned or not optimally utilised, meaning land on the Nile is used as a warehouse or a public transport garage!
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Egypt’s foreign reserves growth not driven by hot money
Egyptian Prime Minister Mostafa Madbouly stated on Wednesday that the recent growth in the country’s foreign reserves is the result of economic reform
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iscore, Synapse Analytics to launch AI-powered credit decision platform
The Egyptian Credit Bureau (iscore) has entered a strategic partnership with Synapse Analytics, an artificial intelligence (AI)-driven risk decision.
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Tax facilities offer ‘golden opportunity’ to settle disputes without extra costs
Those meeting the criteria benefit from special concessions in dispute settlement, provided payment is made within the prescribed deadline.
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Egyptian banks ease foreign currency, credit card restrictions
Major Egyptian banks have raised the foreign currency withdrawal limit for travellers to $10,000 or its equivalent in other currencies.
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Egypt economic outlook remains resilient despite global headwinds
Egypt’s economic outlook remains resilient despite mounting global headwinds, according to the international banking group Standard Chartered report.
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Egypt annual core inflation rises to 11.6% in July
Egypt's annual core inflation rose to 11.6 percent in July, up from 11.4 percent in June, according to the Central Bank of Egypt's (CBE) calculations.
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Egypt to Auction 550 Million Euros in One-year Euro-denominated T-bills
Egypt plans to auction €550M in one-year euro T-bills to replace €609.8 maturing, raising euros amid external revenue pressures.
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Egypt’s annual inflation slows to 13.9% in July
Egypt’s urban inflation eased to 13.9% in July from 14.9% in June, led by steep drops in prices of fruits, vegetables, and meat.
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Orascom Investment Holding’s consolidated losses deepen 389.5% YoY in 2024
Orascom Investment Holdings reports a 38.95% year-over-year increase in consolidated losses for 2024.