Egypt to finalize FDI, industrial development strategies in Q1, projects 4% economic growth
Minister of Planning and Economic Development, Rania Al-Mashat, announced that Egypt is on track to finalize its foreign direct investment and industrial development strategies in the first quarter (Q1) of this year. She also forecasted a 4% growth for the
Egypt’s gold reserves rise by $2.2bn in 2024
The Central Bank of Egypt (CBE) has reported a $2.2bn increase in the value of gold included in the country’s foreign exchange reserves in 2024, bringing the total to $10.644bn by December 2024, compared to $8.440bn in December 2023. After
Egypt’s GDP Growth Reaches 3.5% in Q1 FY2024/25
Egypt’s economy experienced a 3.5% growth in the first quarter (Q1) of the FY2024/25, according to the Ministry of Planning, Economic Development, and International Cooperation. This marks an increase from the 2.7% GDP growth recorded during the same quarter of
Egypt’s remittances hit $23.7bn in 10M 2024, marking 45.3% growth
The Central Bank of Egypt (CBE) reported that remittances from Egyptians working abroad reached $23.7bn during the period from January to October 2024, representing a 45.3% increase compared to $16.3bn during the same period in 2023. This significant growth is
Egypt’s Prime Minister reviews economic entity restructuring efforts
Egyptian Prime Minister Mostafa Madbouly chaired a meeting Monday to assess the progress of the committee responsible for reforming and restructuring the nation’s economic entities. The meeting included Planning and International Cooperation Minister Rania Al-Mashat and Hussein Eissa, head of
Egypt to adopt new methodology for economic development planning
Egypt will implement a new methodology for preparing its economic and social development plan for the 2025-2026 fiscal year, Planning and International Cooperation Minister Rania Al-Mashat announced at the 6th Economic Conference organised by Hapi Journal. The new approach aims
Egypt, Qatar discuss economic cooperation at Doha Forum
Egypt’s Prime Minister Mostafa Madbouly held discussions on Sunday with his Qatari counterpart, Mohammed bin Abdulrahman Al Thani, focusing on joint economic cooperation and strengthening bilateral relations. The meeting coincided with Madbouly’s participation in the 22nd Doha Forum 2024, representing
ADCB Egypt highlights sustainability achievements with EGP 4bn portfolio in mid-2024
Abu Dhabi Commercial Bank (ADCB) Egypt has reaffirmed its dedication to sustainability within the banking sector by prioritizing projects that promote environmental and social responsibility. As of June 2024, the bank’s sustainable financing portfolio reached EGP 4bn, reflecting its commitment
Egypt’s President reviews economic progress with PM, CBE Governor
President Abdel Fattah Al-Sisi met Monday with Prime Minister Mostafa Madbouly and Central Bank of Egypt Governor Hassan Abdalla to review Egypt’s macroeconomic indicators. The meeting followed a recent visit by the International Monetary Fund (IMF) and its reaffirmation of
Egypt launches new RoRo ferry service between Damietta, Trieste ports
Egypt launched a new Roll-on/Roll-off (RoRo) ferry service connecting Damietta Port in Egypt to Trieste Port in Italy on November 29th, 2024. The service is expected to significantly boost trade and economic ties between the two countries, particularly in the