Budget deficit inches down, primary surplus hits 20-year high
Egypt’s overall budget deficit narrowed slightly in the first six months of the fiscal year, while the primary surplus rose to about EGP 230bn, its highest level in 20 years. The Ministry of Finance’s monthly report, issued on Tuesday,
Egyptian Parliament approves EBRD expansion into Sub-Saharan Africa and Iraq
The Egyptian House of Representatives has approved an amendment to the European Bank for Reconstruction and Development’s (EBRD) establishment agreement, paving the way for the bank to expand its operations into sub-Saharan Africa and Iraq. The decision, ratified during a
IFC to advise Egypt on private sector participation in airports
The Egyptian government has signed an advisory services agreement with the International Finance Corporation (IFC), the World Bank’s private sector arm, to expand private sector participation in the country’s airport sector. The signing ceremony was held on Monday at the
Egypt prioritizes macroeconomic stability, private sector growth: Al-Mashat
The Egyptian government is committed to enhancing macroeconomic stability and strengthening resilience against global changes, according to Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation. Addressing the Akhbar Al-Youm Economic Conference, Al-Mashat outlined the government’s plans to foster
Deputy PM emphasizes private sector’s role in advancing Egypt’s health system
Khaled Abdel Ghaffar, Deputy Prime Minister and Minister of Health and Population, has underscored the significance of private sector collaboration in developing Egypt’s health system. Speaking at a symposium organized by the Egyptian-Lebanese Businessmen Association under the theme “The Importance
Egyptian Parliament approves $131m AfDB budget support deal
The Egyptian House of Representatives has approved an agreement with the African Development Bank (AfDB) for $131m to finance the first phase of the Private Sector Development and Economic Diversification Program, a component of the country’s general state budget support.
Egypt aims to strengthen business climate to boost local, foreign investments
Hassan El-Khatib, Minister of Investment and Foreign Trade, presented the Ministry’s new strategic vision during a session of the House of Representatives. This marks a significant moment following the integration of the investment and foreign trade portfolios into a single
Egyptian investors emphasize private sector’s significance for economic growth
Chairperson of Al Ahly Sabbour Developments, Ahmed Sabbour, emphasized that investors have become a central focus of global attention. They are the driving force that elevates the economy to higher efficiency, significantly contributing to international production through investments that ultimately
Tax incentives mark ‘new beginning’ for partnership with private sector: Kouchouck
The Egyptian government has announced a new package of tax incentives aimed at boosting investment and easing the burden on businesses. Finance Minister Ahmed Kouchouck outlined the measures on Tuesday during a session of the House of Representatives, calling the
Egypt’s manufacturers call for investment incentives, local production support
Ahmed Zaki, Secretary-General of the Exporters’ Division at the General Federation of Chambers of Commerce, commended the Egyptian government’s initiative to boost local content in manufacturing and exports. He underscored the need to consider the enhancement of national industry as