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Fitch Solutions increases expectations for Egypt’s GDP growth to 6.59% in 2022

Fitch Solutions has increased its projections tions for Egypt’s real GDP growth in 2022 to 6.59 percent, from 6.23 percent it expected a month ago.
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Orascom Construction adds $670m of new awards in Q3-22

Orascom Construction Plc has added $670 million of new awards to its backlog in the third quarter (Q3) of 2022.Orascom Construction Plc has added $670 million of new awards to its backlog in the third…
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Africa would need up to $1.6trn in climate finance until 2030

Any bold climate action would not be implemented without enough financing, clarifying that the shift to green energy poses a key challenge, particularly to developing countries, according to Egypt's…
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IMF, Egypt to reach Staff Level Agreement very soon

Gerry Rice, Director of Communications at the International Monetary Fund (IMF) said that the fund is expected to reach an agreement with Egypt very soon
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Agricultural Bank opens business development centre in Benha as part of NilePreneurs initiative

The Agricultural Bank of Egypt (ABE) inaugurated last week its latest business development centre in Benha, Qalyubeya governorate, as part of the NilePreneurs initiative launched by the Central Bank…
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CIB first private bank to raise dollar-saving certificate rates following suit of state-run bank

Commercial International Bank will raise interest rates on its dollar-saving certificates, to be the first private bank operating in Egypt to take this step following suit of major state-run banks;…
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Egypt to inaugurate monorail project during the COP27

Minister of Transportation Kamel El-Wazir followed up on the preparations for the trial operation of the monorail system in which it will travel from the workshop to the New Administrative Capital…
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EGX, other stock exchanges discuss launching a carbon platform

The president of the Egyptian Exchange (EGX) discussed with the heads of the South African, Korean, and Malaysian stock exchanges the launch of a voluntary platform for trading carbon documents and…
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IMF sees Egypt’s real GDP growing to 6.6 % in 2022, lowers it to 4.4% in 2023

The International Monetary Fund (IMF) has revised its projections for Egypt’s real GDP growth in 2022 to 6.6 percent up from 5.9 percent it had expected in July, but lowered it for 2023 to 4.4 percent…
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Egypt’s external debt declined to $155.708bn by end of June: CBE

The volume of external debt owed by Egypt decreased to $155.708bn by the end of June 2022, compared to $157.801bn at the end of March — a decrease of about $2.093bn, according to The Central Bank of…
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