The Economist report on Safwan Thabet hits the constrained Egyptian economy
The Economist has published a report on the Egyptian armed forces’ control of sectors of the local economy. The report said that the economic ambitions of the army were behind the arrest of Egyptian-Palestinian activist Rami Shaath and businessman Safwan…
Government obtains $373 million in financing from the Arab Monetary Fund
On Thursday, the Egyptian government approved obtaining $373 million in the Arab Monetary Fund financing. The cabinet issued a statement in which it said that the funding comes to contribute to overcoming the negative repercussions of the Coronavirus pandemic. On…
International Monetary Fund: Egypt will witness higher inflation rates
Friday, the International Monetary Fund released its World Economic Prospects report, which forecasts inflation rates in Egypt with a pessimistic view. The fund raised its inflation forecast for the current year from 6.3% to 7.5%. Over the next five years,…
Central Bank of Egypt admits flight of foreign investments
The Central Bank’s Balance of Payments Report, from July to December of last year, the first half of the current fiscal year 2022/2021, has revealed a significant decline in foreign investments in government bills and bonds. The report indicated that…
Doctors’ resignations from governmental work raise a concern about the future of the health sector
The Medical Syndicate has warned of the continued reluctance of doctors to work in the government sector and the increase in their emigration outside Egypt, revealing the resignation of 11,536 doctors since 2019, including 4,127 doctors during 2021 only, and…
Egypt continues to suspend the import of the products of new 200 companies
The Egyptian Ministry of Trade and Industry has suspended imports of products from 173 Chinese, British, American, Turkish, Emirati and Saudi companies, including Almarai, Unilever, Lipton, Vaseline, Dove, Axe, and Red Bull. Thus, the number of companies whose imports into…
UN human rights experts denounce Egypt’s deportation of Eritrean refugees
United Nations experts called on the Egyptian authorities to immediately halt the ongoing expulsion of Eritrean asylum seekers, expressing deep concern over what they described as a policy of arbitrary and mass displacement of Eritreans. The Office of the United…
Egypt cuts flour rations of subsidized food bakeries
Several subsidized bread bakeries have witnessed disorder after the Ministry of Supply decided to reduce allocated flour rations by 10% until Ramadan, claiming that there was a lack of consumption during the month. Many bakery owners said that the demand…
Egypt’s Stock Market loses EGP 30 billion in a week
The Egyptian Stock Market indices have fallen collectively due to foreign investors’ sales. During last week’s trading, the market capitalization of listed companies’ shares lost about 30 billion pounds, down by 4.2. The main egx30 index fell 3.8% to reach…
Government raises gasoline prices for the fifth time in a row
The Ministry of Petroleum and Mineral Resources in Egypt has announced an increase in gasoline prices of all kinds by 25 piasters per litre during the next three months. The new prices include raising the price of a litre of…
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