News
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Egypt gets $2.77 billion IMF loan as Coronavirus hurts economy
Tourism, which accounts for about 5% of the country’s gross domestic product, has vanished.
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Egypt’s foreign reserves fall to $37.037bn end-April
The net foreign assets of the country's banks plummeted by 162.12 billion Egyptian pounds in March.
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Finance Minister reviews how COVID-19 affects Egypt's economy
Ma’it expected that the volume of Egypt’s public debt will increase by the end of the current fiscal year.
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Egypt's next investment budget upped to EGP 230 bln: Prime Minister
Egypt’s Prime Minister Mostafa Madbouly said the investment budget for the coming fiscal year will surge to EGP 230 billion, up from EGP 150 billion.
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We Seek to Integrate Egyptians Returning from Abroad Into Egypt’s Economy: Minister
Future visions and proposals on ways to reintegrate Egyptians abroad were requested by the minister during the conference.
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Trade exchange between Egypt, China hits $13.2bn in 2019
The Chinese imports from Egypt recorded one billion dollar, the ministry added.
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Egypt: Consumer trends in lockdown
Recently released research has shown what Egyptian consumers have been up to during quarantine.
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IMF to consider Egypt's request for emergency loans on 11 May
According to the IMF, the RFI provides rapid and low-access financial assistance to member countries facing an urgent need for a balance of payments.
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TPAY Mobile and Vodafone Egypt launch DCB for Google Play
Vodafone subscribers can make purchases from Google Play and charge the payments to their mobile bill or deduct them from their airtime balance.
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Egypt continues to cut social spending in 1st corona budget
The Cabinet appears set to keep social spending level in the budget for the new fiscal year.
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Egypt, ITFC sign $100 million deal to secure staple imports
The amount will be used to purchase 240,000 tons of wheat and 100,000 tons of sugar.
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Taxed with good intentions
Al-Ahram Weekly reports on recent modifications to the law on income tax.
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Egypt reopens hotels for local tourists with strict conditions
From June 1, hotels will be allowed to work with a maximum 50% capacity.
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Maait: Economic reforms fostered Egypt's economy in face of COVID-19
The price of gas and electricity for factories has been reduced with a total value estimated at LE 10 billion borne by the state treasury.
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Egypt: Agricultural solidarity in the balance
Discussion has resurfaced on the Agricultural Solidarity Fund after farmers across Egypt have been shouldering losses owing to bad weather.
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Egypt Maintaining production in the crisis
Preserving Egypt’s industrial production and exports is a top priority during the Covid-19 crisis, according to experts at a recent seminar.
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UAE's Dana Gas pledges proceeds of Egypt sale to repay sukuk
The sale of Dana’s exploration and production assets in Egypt could be complicated by the recent plunge in oil prices.
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Oxford Business Group highlights Egypt's efforts in supporting start-ups
Oxford Business Group shed light on Egypt's efforts to support emerging digital companies, as the global economy faces a significant downturn.
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Coronavirus: an opportunity for Egypt’s startups to grow
Egypt’s economy is expected to grow by two percent in 2020, and 2.8 percent in 2021, which makes Egypt the least affected by coronavirus in MENA.
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BNP Paribas: Egypt economy to reach positive growth, can limit coronavirus negative effects
Egypt's foreign currency reserves have noticeably improved over the past few months, which supports the pound's rate against foreign currencies.