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Egypt

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Egypt sees highest monthly USD inflow of $8.5 billion in July

Egypt recorded its highest-ever monthly inflows of US dollars in July, reaching $8.5 billion, Prime Minister Mostafa Madbouly said on Wednesday.

According to the Prime Minister’s decision, Mawlid al-Nabi will fall on Thursday, September 4, corresponding to Rabi’ al-Awwal 12, 1447 AH.

The $7m project will be built on an area of 30,000 square metres, is expected to create 500 direct jobs, and aims to export 90% of its production.

The Egyptian Ministry of Petroleum, Karim Badawi, announced on Tuesday, August 26, the drilling of three new wells (Zohr 6, Zohr 9, and Zohr 13)

This discovery, funded by Eni investments, confirms that there are good oil and gas prospects in the Western Desert.

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