Pound devaluation: What does it mean for Egypt’s stability?
Last Wednesday, the Central Bank of Egypt reduced the price of the pound against the dollar again, for the fourth time in less than one year, bringing the cost of the dollar to 32 pounds for the first time in…
World Bank lowers prediction for Egypt’s economic growth
The World Bank has issued the World Economic Outlook report, which lowered its forecast for the growth of the Egyptian economy. High inflation rates in Egypt contributed to the erosion of citizens’ consumption capacity, which limited growth opportunities. The country’s…
Egypt’s Sovereign Fund prepares for the public offering of five major state-owned companies
On Thursday, Asharq Business said that the Sovereign Fund of Egypt is preparing to sell government stakes in five major companies. The companies are the National Company for Productive Projects (Safi), the National Company for the Sale of Petroleum Products…
“Stop saying nonsense”: How Sisi thinks about the people?
Last Monday, during the activities of the first conference of the National Alliance for Civil Development Action, the president called on the Egyptians to stop “saying nonsense” and that:” the conditions are tough, but this does not mean that the…
Egypt’s annual rate of core inflation rose to 24.4% in December 2022
On Tuesday, the Central Bank of Egypt issued a statement saying that the country’s annual rate of core inflation rose to 24.4% in December 2022. This is the highest inflation rate in Egypt since December 2017, when it reached 21.9%….
IMF conditions for Egyptian economic reform knock off Sisi’s imprudent policies
The International Monetary Fund declared its conditions for concluding a $3 billion loan to Egypt that was agreed on last December. The Egyptian government kept the requirements of the deal under cover, considering what they meant for the living conditions…
The national dialogue in Egypt: Faltering beginning, and the opposition threatens to withdraw from it
More than eight months have passed since the Egyptian President called for a “national dialogue” that includes the various sectors of society to discuss the country’s political and economic crises and propose ways to solve them, but this “dialogue” is…
12 doctors resign daily: Egypt’s health sector in crisis
In May 2020, the medical team at Al-Munira Hospital submitted a collective resignation, protesting the harsh working conditions and the Ministry of Health’s intransigence in providing medical supplies with arbitrary administrative threats and ignoring their requests regarding other technical issues….
The US dollar exceeds a record in Egypt at 32 Egyptian pounds
On Wednesday, one US dollar exceeded 32 Egyptian pounds after the International Monetary Fund (IMF) announced Egypt’s pledges to switch to a flexible exchange rate permanently. On Tuesday, the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) said that…
Reuters: Egypt’s inflation rate will continue to increase
On Monday, Reuters predicted that Egypt’s core inflation rate would continue to rise after it hit a five-year high. At the same time, the devaluation of the local currency continues to cast a shadow over the country. The Egyptian Central…
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