Finance News
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US decides to release suspended military aid to Egypt
The State Department says the United States has decided to release $195 million in military aid to Egypt after withholding the assistance last year.
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Egypt's economy to grow 5.2 percent in FY 2018-19
Egypt's economy will grow 5.2 percent in the fiscal year that began in July, economists said in a Reuters poll.
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Egypt to receive $2bn from International Finance Corporation
The IFC finance will focus on the renewable energy field through 2019.
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Pharos highlights key points of Egypt’s economy on IMF’s report
According to pharos, the report expected Egypt’s economy to mark a progress during fiscal year 2018/2019.
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IMF gives Egypt strong marks in third programme review
The Fund maintained its previous 5.5%projection for Egypt's GDP growth in the 2018-2019, supported by a recovery in tourism and gas production.
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Egypt wants $500 million from World Bank
Egypt held discussions with the World Bank for an additional $500m loan for the country’s social housing projects targeting low-income households
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Egypt's inflation rate spikes in June amid price hikes
Egypt's official statistics agency says annual inflation increased to 13.8 percent in June after a new round of austerity measures.
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IMF urges Egypt to watch inflation after new subsidy cuts
The central bank “should retain its restrictive stance to counter second-round effects of fuel and electricity price increases,” the IMF said.
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Egypt's economy grew 5.4 pct in 12 months to June 30
Egypt’s gross domestic product grew by 5.4 percent in the 2017-2018 fiscal year that ended on June 30, Prime Minister Mostafa Madbouly said.
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Egypt implements 2018/19 budget with more expenditures on health, education
The 2018/19 fiscal year has a total of EGP 1.42 trillion in expenditures, an increase of EGP 200 billion from last year.
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Egypt's history of privatisation
Egypt’s history of privatising public-sector companies has not always been bright.
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Egypt considers entering sukuk market
The Sharia-compliant issuance, either in dollar or euro-denominated sukuk probably will happen in fiscal 2018-19.
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Egypt's Suez Canal Authority denies seeking loan to buy dredgers
It has been reported that the authority is seeking a €300 million loan to buy new dredgers.
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Cooperation Between Govt, CBE to Maintain Interests of Egyptian Economy
The debts of government bodies have been discussed during the meeting along with the mechanisms of paying off sums to the banks.
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Egypt continues economic reforms with cuts to fuel subsidies
Despite social and other challenges, the government is pressing ahead with its economic reform programme.
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Egypt to receive fourth tranche of IMF loan package
Moeet said the new tranche would be used to fund the country’s general budget, as well as strengthening foreign reserves.
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Egypt's economic reform program more than 85% complete
The minister also pointed out that recent salary raises for government employees were aimed at alleviating the burden of the new price hikes.
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Egypt’s economy powers ahead
Recent economic figures certainly back this up. Real GDP growth has strengthened over the past four consecutive quarters, climbing to 5.3 percent.