• Thursday, 2 September 2021

    We smashed growth expectations in 4Q2020-2021

    Egypt’s economy grew at a 7.7% clip in 4Q2020-2021, accelerating from a contraction of 1.7% during the final quarter of the previous fiscal year — and up from the 2.9% growth recorded in 3Q2020-2021 quarter, Planning Minister Hala El Said...
  • Wednesday, 1 September 2021

    Plans for new natgas networks and yacht tourism on the airwaves

    The talking heads were focused yesterday on a cooperation protocol between the Planning and Oil Ministries for financing the implementation of natgas networks in rural areas across Egypt: The first of three phases of the project will cost state coffers...
  • Wednesday, 14 July 2021

    In diplomatic miscellany: Shoukry continues GERD talks in Brussels; Greek-Arab ties continue to warm

    IN DIPLOMATIC MISCELLANY- Here’s a round-up of diplomatic stories you should know about this morning.Shoukry continues GERD talks in Brussels: It was Foreign Minister Sameh Shoukry’s third day in Brussels yesterday, where he has been holding meetings with European foreign...
  • Thursday, 3 June 2021

    Current account under the spotlight as economy continues to recover from covid

    Remittances to Egypt rose 10% y-o-y in the first five months of 2021, Planning Minister Hala El Said said in a statement. Egyptians working abroad transferred USD 15.5 bn since January, already up nearly 10% compared to the period between...
  • Thursday, 3 June 2021

    2.5 mn people have had at least one covid shot + our first batch of homemade CoronaVac will be ready this month

    Some 2.5 mn people — 2.4% of Egypt’s population — have received at least one dose of a covid-19 vaccine, Prime Minister Moustafa Madbouly said at a press conference yesterday. This is a 400k increase from the 2.1 mn figure...
  • Wednesday, 2 June 2021

    Are we there yet?

    Egypt is expected to (almost) match its pre-pandemic growth level in this final quarter of the state’s current fiscal year. The economy is penciled in to grow 5.2-5.5% this quarter, which wraps up on 31 June, according to figures Planning...
  • Monday, 31 May 2021

    More FDI, please

    Net foreign direct investment is expected to rebound next fiscal year to a near pre-pandemic level, Planning Minister Hala El Said told the Senate yesterday, saying she expects Egypt to land some USD 7 bn worth in FY2021-2022, just ahead...
  • Tuesday, 25 May 2021

    Dongfeng plans to invest USD 12 mn in EV assembly with El Nasr

    China’s Dongfeng has upped its planned investments in a plan to locally assemble EVs with El Nasr Automotive to USD 12 mn from USD 10, as part of a USD 60 mn plan. The two state-owned companies are set to...
  • Wednesday, 21 April 2021

    Gov’t targets investments worth EGP 1.25 tn in FY2021-2022

    The government expects Egypt will see a total of EGP 1.25 tn in public and private sector investments in FY2021-2022, up from the EGP 740 bn the government had projected for the current fiscal year, Planning Minister Hala El Said...

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