Egypt’s annual headline inflation declines to 31.8% in April 2024: CAPMAS
In April 2024, Egypt’s annual headline inflation declined to 31.8 percent, down from 33.1 percent in March, as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS). This decrease in inflation can be attributed to the increased availability of foreign exchange following a recent currency flotation, which helped alleviate some of the price […]
Egypt’s foreign reserves surge to $41.1B, reaching a four-year high
Egypt’s net foreign reserves soared to $41.1 billion by the end of April 2024, marking the highest level attained in over four years. The Central Bank of Egypt released figures confirming an increase of $696 million in net international reserves during April, underscoring the country’s growing economic strength. These impressive figures align with Fitch Ratings’ […]
Cairo real estate market surges by 83% in 6th of October, by 95% in New Cairo
According to JLL’s Cairo Real Estate Market Overview Report for Q1 2024, the residential sales prices in Cairo’s secondary market witnessed a surge, with an increase of nearly 83 percent in the 6th of October area and a staggering 95 percent in New Cairo. Cairo’s tourism and hospitality sector is being strengthened through cross-border collaborations, […]
Minister Mashat, Dutch Amb. talk join work files, follow up on mutual projects
Egyptian Minister of International Cooperation, Dr. Rania Al-Mashat, held a bilateral discussion session with Ambassador Peter Mollema, the Dutch Ambassador to Cairo, to discuss joint work files and follow up on the implementation of programs and projects. The meeting took place at the Ministry’s headquarters in the New Administrative Capital, within the framework of the periodic meetings […]
Egypt rejects loans worth $39.3B since 2018: deputy planning minister
Deputy Minister of Planning and Economic Development Ahmed Kamaly noted Wednesday at the plenary session of the House of Representatives that the government had begun reducing the amount of loans acquired since 2018. The deputy minister stated that, in the past six years, Egypt received loans worth a total of $8.7 billion, while others […]
Egyptian president instructs government to move forward with land reclamation projects
President Abdel Fatah El-Sisi held a meeting Wednesday to follow up on securing the inputs needed to operate utilities and provide services, particularly to the agricultural sector, within a plan to increase the supply of food products, offering them in reasonable prices in the local market and also exporting. The focus was on introducing […]
