Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter released by the IMF on Saturday as part of a review of Cairo’s three-year, [ More … ]
As the Egyptian president prepares for the country’s first arms expo, analysts say Egyptian citizens do not benefit from lavish state spending In early December, the world’s arms companies are set to descend on Egypt. [ More … ]
By: Abdel-Hafez Al-Sawi* Subsidy in Egypt, a thorny issue, is usually addressed in light of government decisions to reduce it, which accordingly leads to raising the prices of goods and services. But subsidy is not [ More … ]
Egypt’s foreign debt rose to $88.2 billion in the third quarter of the 2017-2018 fiscal year, up from $73.9 billion in the same period the previous year, central bank data showed on Monday. Egypt’s fiscal [ More … ]
On July 1, 2012, when the Egyptian military junta – theoretically – handed over power to the elected authority, the foreign reserves then was only $ 15.5 billion against $ 36 billion early 2011 when [ More … ]
Egypt’s al-Sisi is confronting one of the toughest challenges he has faced since seizing power five years ago, as rising prices linked to economic austerity measures take a toll on his core middle-class supporters, according [ More … ]
Hashtag “Sisi Leave” in (Arabic) has been trending in the past few hours in Egypt with people urging Abdel Fattah al-Sisi to resign amid recent austerity measures carried out as part of economic reforms ordered [ More … ]
A group of Egyptian lawmakers criticized recent fiscal reforms enacted by Abdel Fattah al-Sisi’s government, especially subsidy cuts to fuel and electricity. The 25-30 Alliance, a bloc of a small number of opposition MPs, demanded [ More … ]
It seems that al-Sisi’s words during his last speech that Egyptians must all suffer to bring a stronger economy will mark the coming phase. Days after raising electricity bills, Egypt raised gasoline prices by up to 50 [ More … ]
BY: Abdel-Hafez Al-Sawi* The speech of David Lipton, the First Deputy Managing Director of the International Monetary Fund (IMF), during a recent conference on “Inclusive Growth and Job Creation” in Cairo on May 5, 2018, [ More … ]
As Egypt continues to bolster foreign reserves and prepare for about $14 billion of foreign debt repayments in 2018, the central bank governor said that Egypt signed an expanded $3.2 billion financing deal with foreign banks, according [ More … ]
A team from the International Monetary Fund (IMF) is conducting a mission to Tunisia from Wednesday July 26 to August 3, 2017 to assess the economic progress and discuss with the Tunisian authorities the progress [ More … ]
The Tunisian dinar fell to its lowest rate in years trading at 2.83 against the euro and 2.412 against the US dollar. Authorities explained the decline saying that Tunisia did not receive the last instalment [ More … ]
Egypt has raised the prices of fuel by up to 55 percent, the second such increase since the local currency was floated seven months ago. Egypt has raised the prices of fuel by up more [ More … ]
An International Monetary Fund team started its first review of Egypt’s $12 billion loan accord, with the debate on how best to curb inflation likely to take centre stage, according to Amwal al-Ghad, an Egyptian [ More … ]
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