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Central Bank of Egypt Cuts Interest Rates by 2% as Inflation Slows

The Central Bank of Egypt cuts interest rates by 2% to 22% as inflation slows to 13.9%, the first reduction since March 2024 supporting growth.

Egypt's dollar resources hit a record $8.5B in July, with remittances at $3.6B and foreign reserves reaching $49B amid economic recovery.

Chinese President Xi pledges expanded investment in Egypt's renewable energy and EVs, with $17B trade volume and 3,050 Chinese companies.

Egypt's 2025/26 development plan targets a GDP of LE 20.4 trillion with LE 3.5 trillion in investments as the new fiscal year begins.

Egypt signs $340M oil/gas exploration deals with Shell ($120M) and Eni ($100M) in the Mediterranean and Nile Delta to boost declining production.

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