For the foreseeable future, it appears that Egypt will remain trapped in a vicious state-sponsored economic cycle that disproportionately harms the poor and the middle class, states a key finding of a report by Carnegie. [ More … ]
A recent report by London-based Middle East Eye has highlighted Egypt’s economic indicators in the aftermath of the Russia-Ukraine war “Egypt’s debt, which has been sharply increasing in the past decade, is set to reach [ More … ]
Global sovereign borrowing will reach $10.4 trillion in 2022, nearly a third above the average before the coronavirus pandemic, S&P Global Ratings has stated in a recent report that also expected that Egypt’s bond sales [ More … ]
Both Saudi Arabia and Qatar agree to invest billions of dollars in Egypt, part of an influx of Gulf support to help shore up the country’s poor public finances. The Kingdom of Saudi Arabia and [ More … ]
With the outbreak of the Russia-Ukraine war on Feb. 24, 2022, Egypt’s food security crisis now poses an existential threat to its economy, says Michael Tanchum, an American researcher and academic. Professor Michaël Tanchum, a [ More … ]
Foreign investors fleeing emerging markets following Russia’s invasion of Ukraine have sold around $1.19 billion of Egyptian treasury bonds in just three days, with activity in the secondary market continuing on Tuesday, according to Reuters. [ More … ]
Yehia Hamed, Egypt’s former investment minister, has published an opinion article on the London-based Middle East Eye, addressing the economic situation in Egypt, where “With the economy in shambles and millions of people mired in [ More … ]
In devotion of Robert Springborg’s description of Egypt as “beggar state”, with respect to reliance on foreign support, South Korea announces it will lend Egypt $1bn, as soft loan South Korea has announced that it [ More … ]
Saudi Arabia has deposited $3 billion each in the Central Bank of Egypt, according to the Saudi Press Agency (SPA). The SPA Monday report cited a statement by the Saudi Finance Ministry, saying that Riyadh [ More … ]
Annual core inflation computed by Central Bank of Egypt records 6.4% in July 2021 Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that the annual rate of urban inflation rose to 5.4% [ More … ]
Turkey’s lira currency had reached to new all-time lows after president Erdogan called for interest rate cuts in the next two months and said he spoke to the central bank’s new governor about it. “I [ More … ]
The agreement was signed in Tehran last Saturday by Iran’s Foreign Minister Mohammad Javad Zarif and China’s Foreign Minister Wang Yi. Wang, who touched down in Tehran on Friday for a two-day visit as part [ More … ]
Saudi Arabia’s crown prince says oil firm Aramco and petrochemical firm SABIC will lead investments of five trillion riyals ($1.3 trillion) by the country’s private sector by 2030 under an economic diversification programme. The move, [ More … ]
Sisi’s regime has decided to sell the bulk of government procured COVID-19 vaccines, rather than provide them for free. BY; MAGED MANDOUR The two-dose Astra Zeneca inoculation will be sold for 100-200 Egyptian pounds (EGP), though [ More … ]
More than 200 people were arrested after “riots” targeting public and private property in Tunisia, according to an official in the Tunisian Ministry of Interior. An official in the Tunisian Ministry of Interior said yesterday [ More … ]
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