Egypt’s decision to scrap a monthly fixed customs exchange rate could lead to higher inflation in the coming months if the Egyptian pound declines significantly against the dollar, analysts said. Egypt last Sunday cancelled the [ More … ]
Egypt’s annual urban consumer price inflation increased to 12.7 percent in January from 12.0 percent in December, as recorded by the CAPMAS statistics agency, though the data was unlikely to quell speculation the central bank [ More … ]
Acquiring experience with measures taken against the market turmoil in summer of 2018, the Turkish economy is now looking to turn imminent global risks into advantages As the global and regional economies get increasingly exposed [ More … ]
Another corner of the energy market threatens to deal a new blow to Egypt’s fragile government finances although its milestone of regaining self-sufficiency in natural gas. A six-fold increase in production at the giant offshore Zohr [ 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 … ]
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 … ]
Egyptian civil servants have warned the government that increases in their salaries will not help them avoid the devastating impact of tough new austerity measures. Earlier this month the national Parliament approved a draft law [ More … ]
Dr. Ahmed Zikrallah* Despite the economic measures taken by the Egyptian government to support the domestic and foreign investment climate – most notably the issuance of new laws to regulate investment, companies, capital market, and [ More … ]
New data say yearly inflation fell to 9.79 percent in July, down from 10.9 percent in June Turkey’s annual inflation rate dropped to 9.79 percent in July — its lowest level in six months, the [ More … ]
Egypt’s central bank raised its key interest rates by 200 basis points, citing stronger economic growth and falling unemployment, confounding the expectations of economists who forecast rates were unlikely to change, reported Reuters. At a [ More … ]
Reliance on state-subsidized supplies rises after Cairo signs $12bn package with IMF, according to a Financial Times report, titled: “Egypt’s loan conditions leave poor on the bread line”. While Zeinab Ahmed and her friend are waiting [ More … ]
Egypt expects to receive a second installment, worth $1.2 billion, of a three-year International Monetary Fund loan in the second half of June. At a press conference, Finance Minister Amr el-Garhy announced that negotiations with [ 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 … ]
A post on Al-Sisi’s official Facebook page has provoked mockery of social media activists Al-Sisi’s Facebook page posted, “The public debt hiked from 700 billion to 3.4 trillion Egyptian pounds,”with hashtags (in Arabic)#Ask_thePresident and #BeCreative. The [ More … ]
The International Monetary Fund has lowered 2016-2017 growth forecast for Egypt to 3.5%. Egypt’s economy will grow by 3.5 %during the 2016-17 financial year,as said by the IMF, lowering the 4 % forecast it made [ More … ]
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