Finance News
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Finance Minister: Committed to achieving goals of current fiscal year
The Finance Ministry was able to maintain a primary surplus of 1.3 percent for five consecutive years that ended last June.
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Egypt upgrades budget deficit target for FY2023/24 to 7% of GDP
The country also expects the budget deficit to hit 8% of GDP in the current fiscal year from the previous forecast of 6.8%.
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Egypt’s authorities debunk rumors of forged LE100 banknote
Egyptian security services debunked rumors circulating on Facebook warning citizens against a counterfeit LE100 banknote in the markets..
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2023-2027 Country Partnership Framework bet. Egypt, World Bank endorsed Sunday
The new CPF was prepared through joint work and continuous discussions with all relevant parties from the national authorities.
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Q&A on development cooperation relations bet. Egypt, World Bank
The Ministry issued a report following the launch of the Country Partnership Framework 2023-2027.
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Egyptian inflation seen inching lower in April: Reuters poll
The median forecast of 13 analysts polled showed annual urban consumer inflation slipping to 31.0% in April from 32.7% in March.
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Finance, planning ministers to address parliament on 2023/24 budget draft, plan Tuesday
The new budget will raise social spending to EGP 530 billion ($17,147,774,760), including EGP 128 billion.
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IFC investments in Egypt touch $1.5bln
Total number and value of ongoing projects funded by the World Bank stands at 15 and $7.33 billion respectively.
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Egypt introduces new regulations for consumer finance providers
New guidelines for the formation and licensing of consumer finance providers have been published by Egypt's Financial Regulatory Authority (FRA).
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Everything you need to know about upcoming economic reforms in Egypt
Since 2016, Egypt embarked on a journey of economic reform supported by the IMF. Here's everything you need to know about it up until now.
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$548mln increase in Egypt’s international reserves in 4 months: CBE
According to the CBE, the value of gold listed in reserves increased to $8bln in April.
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WB Contributed to Financing More Than 175 Projects Worth $25 Bln in Egypt
This came during H.E.’s speech at the launch ceremony of the Country Partnership Framework (CPF) between Egypt and the World Bank Group 2023-2027.
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Egypt’s net investment flows increased to $5.7 billion, CBE
The CBE reported that foreign direct investments in non-oil sectors increased to record a net inflow of $6.6 billion up from $4.4 billion.
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Egypt: aiBANK records $56.1mln revenues in 2022
As part of the reform and development restructuring, the bank has developed a clear strategy to invest in the human element.
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Fitch Downgrades Egypt to 'B'; Outlook Negative
Fitch Ratings has downgraded Egypt's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to 'B' from 'B+'. The Outlook is Negative.
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Fitch's downgrade is the result of unrelenting external pressures on Egypt's economy: Maait
Fitch's downgrade of Egypt's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to “B” – down from “B+”
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Is my money safe? What you need to know about bank failures
Recent turmoil in the banking industry may have you worried about your money.
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CBE, EBC, MasterCard cooperate to implement rules governing e-payment
The tokenization technology replaces private customer data such as the payment card account number with a token.
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Sidpec’s profits jump 107% in Q1-23 initial results
Basic earnings per share increased by 52.78% year-on-year.
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Egypt hosts World Bank's IFC summit to enhance women’s economic participation in MENA
Egypt hosted on Wednesday the International Finance Corporation's (IFC) summit on Law and Gender Conference.