Egypt weighs minimum wage hike up to EGP 10k to counter anticipated inflationary pressures from war

Monday, 16 Mar 2026

Egypt weighs minimum wage hike up to EGP 10k to counter anticipated inflationary pressures from war

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Today at a glance

Big Story Today

Public sector minimum wage could reach EGP 10k.

Tax

A clean slate for unregistered units.

Logistics

We’re emerging as a key gateway for trade.

Investment Watch

Record FDI inflows mask stalling productivity and job growth across Egypt’s economy.

Moves

NBE taps Sherif Elbehery to lead UAE operations.

Also on our Radar

Madinet Masr, Elsewedy Electric, Juhayna post FY 2025 earnings.

PLANET FINANCE

Stagflation rewrites the hedge book.

BLACKBOARD

Egypt targets African students to offset potential Gulf enrollment dip amid regional uncertainty.

WHAT WE’RE TRACKING TODAY

Egypt freezes electricity prices — for now

Good morning, folks. We are one day closer to the Eid break, but the news cycle isn’t showing any signs of slowing down.

We lead today’s issue with an exclusive that the government is looking into increasing its budget for public sector wages to beyond the EGP 700 bn mark, in a move we believe will be a major test for the government’s plan to reduce the budget deficit.

BUT FIRST- Attention, readers working in banks and in the private sector. You will also be off from Thursday, 19 March to Monday, 23 March to celebrate Eid El Fitr alongside the public sector, the Central Bank of Egypt and the Labor Ministry confirmed in separate statements (here and here). The EGX is yet to release a statement, but we expect it to follow suit in the coming days.

***

WISH THIS MORNING’S ISSUE was a podcast? We’ve got you. Tap or click here to listen to Morning Drive, a 10-minute version of today’s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.***

Watch this space

ENERGY — The Madbouly government will not raise electricity prices until at least the end of June, a senior government official tells EnterpriseAM. Despite rising production costs following the recent fuel price hikes, the state has opted to maintain current power tariffs to avoid further stoking inflation and putting additional pressure on the cost of living, we were told.

While this move will keep the electricity subsidy bill elevated, the official expects it to land between EGP 70-80 bn in the upcoming fiscal year’s budget, compared to roughly EGP 75 bn in the current FY.

What’s next? To bolster domestic energy supplies and reduce the need for expensive energy imports, the Electricity Ministry is working with private sector partners to fast-track renewable energy projects, the source added. This includes bringing the Abydos 2 solar plant in Kom Ombo online and accelerating the integration of 2.5 GW of renewable capacity into the national grid to reduce the state’s fuel bill.

LOOKING AHEAD — Egypt ranks as the third most vulnerable emerging market to the economic spillovers of the US-Iran conflict, trailing Pakistan and India, according to a recent report from Fitch Solutions’ research unit BMI, seen by EnterpriseAM. The assessment highlights Egypt’s “fragile external position,” high exposure to energy price volatility, and unanchored inflation as the conflict drags into its third week.

Egypt is uniquely exposed to trade disruptions through the Strait of Hormuz. More than 10% of Egypt’s total goods imports pass through the chokepoint. “Those most reliant on imports through this chokepoint, including key goods such as food and energy, face greater delays to shipments and additional costs,” the report notes.

The double threat: BMI identifies Egypt as one of the energy importers most vulnerable to balance-of-payments strains and currency depreciation. The country’s total energy subsidies are estimated at 20% of GDP — a figure BMI notes is double that of mainland China, the next highest EM. With a fiscal deficit exceeding 7% of GDP, high energy prices — with Brent crude potentially hitting USD 110-130 / bbl — could balloon the state’s subsidy bill and widen the budget gap, BMI warns.

An early end to monetary easing? The inflationary shock of the conflict is already being felt, potentially derailing the central bank’s plans for a dovish pivot. “Inflation [in Egypt] currently exceeds target rates, so an inflation shock would probably cause an early end to [its] easing cycle,” the report adds.

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Happening today

It’s day two of Foreign Minister Badr Abdel Ati’s tour of the Gulf “to convey a message of solidarity” amid the war, according to a ministry statement. Abdel Ati is in Oman — his third stop of the trip — to “address ways to reduce escalation and tension and promote calm in the region,” according to a separate statement.

To kick off day one of the trip, the minister met Qatari Emir Tamim bin Hamad Al Thani in Doha to deliver a message of Egypt’s “complete and absolute support” for Qatar following recent Iranian strikes. Abdel Ati then landed in the UAE to meet his Emirati counterpart to relay Egypt’s support for the country amid “delicate and difficult circumstances and unprecedented challenges facing the UAE and the entire region.”

Open call

Germany’s Facility Investing for Employment will launch a newopen call for proposals in Egypt on 15 April, offering substantial co-financing grants to boost job creation in the private sector, according to a statement (pdf). Applications will be accepted until 30 June, after which selected applicants will be able to submit their full proposals.

Companies, public entities, and nonprofit organizations can apply for grants ranging between EUR 800k-10 mn per project, which can cover 25-90% of total project investment costs. This round also comes with a new feature that allows applicants to request additional co-financing for training measures specifically designed to qualify workers for employment in Germany.

Data point

20.9% — that’s how much auto sales slipped m-o-m in January, coming in at 14.0k, according to figures from the Automotive Marketing Information Council seen by EnterpriseAM. Despite the monthly fall, total sales were up 39.1% y-o-y as the sector continues its recovery from a two-year slump.

PSA

Set to fly Egyptair to Dubai soon? You will want to double-check your itinerary. Egypt’s flag carrier will operate just one daily flight to Dubai instead of its usual two, starting Sunday, 15 March, until further notice, according to a statement. The decision follows instructions from Dubai International Airport authorities to reduce arriving and departing flight traffic amid recent regional developments.

WEATHER- It’s another hazy day in Cairo today, with a high of 23°C and a low of 14°C, according to our favorite weather app.

The sun is set to be out in full force in Alexandria, with a high of 23°C and a low of 12°C.

The big story abroad

The regional war is still getting ink from all international dailies — no surprise there — as Washington raises the stakes. US President Donald Trump has warned Nato that it faces a “very bad” future if the coalition does not help the US in reopening the Strait of Hormuz, he told the Financial Times. Trump also signaled that he may delay his sit-down with China’s President Xi Jinping — scheduled for later this month — in efforts to pressure Beijing to act.

And in the world of e-commerce: Chinese e-commerce giant JD.com has launched its online marketplace — Joybuy — in European markets, as it prepares to face off with its major rival Amazon. China’s largest direct online retailer has stepped foot into the UK, Germany, France, the Netherlands, and Luxembourg, diversifying its offerings away from its home market, where retailers face fierce competition vis-a-vis fast delivery times.

AND- This year’s Oscars are wrapping up as we hit send this morning. Among those who secured awards during the ceremony: Jessie Buckley won best actress for her performance in Hamnet and Sinners’ Michael B Jordan was awarded best actor. One Battle After Another took home the award for best picture.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We look at how the country’s plan to attract Gulf students to Egyptian universities and set up universities in the GCC is undergoing a rethink amid regional uncertainty.

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electricity What We're Tracking Today

Art. Sound. Movement.

This month, Somabay welcomes NoArt for a night where sound, art, and energy converge by the Red Sea.

With a global lineup featuring ANOTR, Bella, Chloé Caillet, Chris Stussy, Job Jobse, Palms Trax, and Misty, the Bay transforms into an open-air stage where music moves freely from sunset into the night.

A gathering of sound, movement, and creative expression set against one of the Red Sea’s most extraordinary landscapes.

22 March 2026 — Somabay Egypt

The Big Story Today

Public sector minimum wage could reach EGP 10k

The government is mulling increasing its public sector wage budget past EGP 700 bn for the first time, coming in at around EGP 750 bn in the next fiscal year versus EGP 679.1 bn in the current FY, a senior government official tells EnterpriseAM.

Driving the uptick in planned spentading on wages will be salary increases for all employee brackets, including raising the public sector minimum wage to EGP 8k-10k from the current EGP 7k, we were told. The proposal signals that the government is anticipating a significant spike in inflationary pressures stemming from the ongoing war and that it needs to think ahead to guard against a potentially punishing rise in prices for low-income consumers.

Why this matters: Crossing the EGP 700 bn threshold for wages represented a sizable expansion of the state’s planned spending. While necessary for supporting Egyptian workers through a difficult period, this increased spending will test the government’s commitment to its deficit reduction goals, especially as interest rates now look set to stay higher than originally planned.

More money will also be set aside for education and healthcare, with the new budget expected to entail support for workers already in the sector as well as new appointments to address shortages and improve services, the source added.

The private sector is expected to follow suit when the National Wages Council meets next month to decide on a new minimum wage for private sector workers, council member Alaa El Sakty tells us. El Sakty expects the minimum wage to increase to EGP 8k from the current EGP 7k.

Because many businesses are feeling the pinch right now, the council plans to offer exemptions for distressed sectors, similar to what they did during Covid-19, El Sakty notes. However, he warns that much of the private sector can only stomach these mandatory pay bumps if the government steps in to help with lower interest rates on project loans and deferred state obligations.

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budget PUBLIC POLICY state budget THE BIG STORY TODAY

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Tax

A clean slate for unregistered units

The Finance Ministry is set to waive all back taxes on unregistered properties or those missing from tax records in a major “goodwill” bid to expand the tax base through voluntary compliance, a government source tells EnterpriseAM. Part of a broader facilitation package approved by the House of Representatives, the roadmap ensures that no retroactive taxes will be collected — regardless of when a property was built — provided owners register of their own accord.

Primary residences will receive retroactive relief for past dues for two periods — from 2018 through the end of 2021, and from January 2022 through 2026, after which applicable units will be taxed. To further incentivize compliance, the ministry is offering a 25% markdown on residential units and a 10% markdown on commercial and administrative properties to voluntary registrants, as well as a 5% markdown for advance payments made before final valuations.

DATA POINT- The Finance Ministry expects to collect EGP 29 bn in property tax revenues this fiscal year, up from the EGP 18 bn penciled in in the budget.

In a move to reset the relationship with taxpayers, the ministry is capping late payment penalties at the original tax liability, waiving fees for those who settle within six months, and withdrawing all unresolved government appeals.

What’s next: The Real Estate Tax Authority is awaiting the official publication of the law to then form committees to handle valuation and inventory under the new guidelines to “prevent arbitrary assessments.”

And to make things easier: Authorities plan to launch a mobile application for property taxes, allowing taxpayers to pay dues online.

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Finance Ministry tax

Logistics

We’re emerging as a key gateway for trade

Egypt is positioning itself as a key gateway in global trade amid all the disruptions, with some of its ports witnessing a notable uptick in activity as more shipments get rerouted to avoid the now-closed Strait of Hormuz.

As things stand: The Red Sea ports of Hurghada and Safaga are experiencing significant pressure amid a surge in sea-to-land transit routes to Jeddah, three sources in the maritime and land transport sector told EnterpriseAM. Mounting pressure on those sites and the Saudi Port of Neom comes as land transport replaces sea freight thanks to the Hormuz closure. Egypt-Saudi passenger ferries are at 100% capacity as travelers ditch expensive flights for overland routes. Saudi’s Yanbu Port also reports a packed schedule.

Around 500 shipments are conveyed daily via the Neom-Safaga route, with additional cargo piling up pending ferry availability, a source said.

That’s not all: Sources have indicated a spike in trade volumes across the Neom-Safaga-Hurghada corridor, as well as at Sumed and Yanbu terminals. East Port Said Port is seeing increased activity as a strategic alternative, as it allows shippers to bypass Bab El Mandeb Strait and the Suez Canal entirely.

Safaga Port has emerged as a linchpin for Egyptian exports, providing a vital alternative for global shipping lines, the sources said. The port handled 4.2k shipments in the first half of March — a 75% y-o-y jump.

Safaga has played a “critical role” throughout the crisis, Egyptian International Freight Forwarding Association Chairman Medhat El Kady noted. The port is set to further bolster cargo handling, re-exports, and the resilience of global supply chains.

Meanwhile, the Egypt-Jordan land route has witnessed a doubling in activity, with 100 shipments transiting the corridor daily.

That said, there aren’t enough ferries: While the ports are mitigating the crisis, a shortage of vessels remains a hurdle, maritime transport expert and member of the general assembly of the Holding Company for Maritime and Land Transport Ahmed Al Shami tells EnterpriseAM. He noted that Safaga Port’s current fleet of just four ferries is insufficient to meet surging demand, necessitating private sector partnerships to expand capacity on these routes.

Transport costs are on the upswing: Rising operational costs have prompted a 10% increase in overland transport rates to the GCC, with broader land freight services climbing by 15-17% due to higher fuel prices and surging demand.

SPEAKING OF THE GCC- The Madbouly government has clarified that it has not suspended exports to Gulf countries, and denied reports claiming otherwise.

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logistics

Investment Watch

Why Egypt’s USD 11 bn in FDI isn’t creating jobs

Egypt is attracting more FDI than ever, but it isn’t buying us the productivity we need, according to the OECD’s FDI Q ualities Review of Egypt (pdf) out earlier this month. While the headline figure looks good — USD 11 bn in inflows last year — the quality of the growth is stalling.

Why this matters: For every USD 1 bn of greenfield FDI coming our way, only 1.1k jobs are created. That is nearly half the OECD average of 2.1k and significantly below the regional average of 1.6k.

Almost 80% of the greenfield FDI that came our way in the decade ending 2023 went toward construction and resource-based sectors, which are “capital-intensive sectors with high levels of productivity but limited prospects for innovation and knowledge diffusion.” Meanwhile, a mere 0.2% went toward R&D, and only 5.5% of foreign firms operating here reported investing in R&D.

Then there’s the capability gap, which the review blames on the “limited absorptive capacity of Egyptian firms.” Foreign firms are 1.5x more productive than their domestic counterparts, which sometimes lack the “necessary capabilities to harness the technological spillovers that FDI can generate.”

The review lays out a handful of recommendations aimed at helping the country unlock the full potential of FDI. These include enhancing the link between SMEs and FDI so that SMEs are able to absorb the productivity spillover of foreign investment, setting up directories of SME suppliers, and matchmaking services to make it easier for foreign players to source inputs locally.

What’s next? The General Authority for Investment and Freezones and the World Bank are working to finalize the National FDI Strategy, which will “outline clear policy priorities, target sectors, governance arrangements, and a comprehensive [monitoring and evaluation] framework based on international good practices.”

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FDI investment watch

Moves

NBE taps Sherif Elbehery to lead UAE operations

Sherif Elbehery (LinkedIn) was tapped as CEO of the National Bank of Egypt’s Emirati operations, he told EnterpriseAM. Elbehery brings over 25 years of experience to the role, having previously served as CEO of Onebank — Egypt’s first digital bank — and held senior leadership positions at Banque Misr, Barclays Egypt, and Citibank.

“NBE has big plans in the UAE. We are looking into upgrading our DIFC license to offer a full-fledged investment banking experience,” he told us. A Category 1 license from the Dubai Financial Services Authority is the highest tier of financial authorization, allowing institutions to provide comprehensive services.

Who will take over Onebank? Succeeding Elbehery as Onebank CEO is Moataz Metawee, banking sources told EnterpriseAM. Metawee, who previously held a leadership position at Banque Misr, is a digital transformation veteran. He will now lead Onebank as it prepares for its highly anticipated public launch.

In a related move, Amr El Nokaly (LinkedIn) has been appointed as deputy CEO and executive board member at Banque Misr, according to our sources. El Nokaly joins the state-owned lender from Bank ABC.

Tags:

moves National Bank of Egypt

EGYPT IN THE NEWS

Nile fishers’ shift to plastic collection gets global spotlight

Egyptian fishermen cleaning Cairo’s Nile of plastic bottles have landed quite a catch by capturing the attention of the international press, with The Guardian spotlighting how the roughly 180 fishers of Al Qarsaya Island — opposite Al Bahr Al Aazam Street — are now earning far more from harvesting plastic waste than from fishing itself. The outlet talks to Mohammed Ahmed, who now spends his mornings navigating the river to hunt for discarded plastic bottles before sending them out to a recycling facility in Sixth of October.

The article points to the role of VeryNile, an initiative launched by Egyptian social enterprise Bassita in 2018. By paying fishers significantly above-market rates for the waste they retrieve, VeryNile has transformed river cleanup into a highly reliable and lucrative income stream. So far, the program has equipped the community with 150 boats at no cost and successfully removed over 450 tonnes of plastic from the water.

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Egypt in the News sustainability

Also on our Radar

Madinet Masr, Elsewedy Electric, Juhayna’s FY 2025 earnings are in

Madinet Masr bottom line rises nearly 24% in 2025

Real estate developer Madinet Masr’s net income rose 23.8% y-o-y to EGP 3.6 bn in FY 2025, according to its latest earnings release (pdf). Revenues climbed 38.4% y-o-y to reach EGP 11.7 bn over the same period, supported by robust new sales and an acceleration in unit deliveries. The developer recorded a solid 10.7% y-o-y increase in new sales, logging in EGP 52.6 bn — up from EGP 47.5 bn a year earlier — driven by strong demand for its flagship projects Sarai (61.5% of new sales) and Taj City (12.4%).

In 4Q 2025, the developer’s bottom line tripled to some EGP 1.3 bn, while revenue more than quadrupled to EGP 4.3 bn.

Elsewedy’s net income holds steady in 2025 as revenues climb

Elsewedy Electric’s net income after minority interest remained broadly stable at EGP 17.3 bn in FY 2025, dipping 0.8% y-o-y, according to the company’s latest earnings release (pdf). Over the same period, revenue climbed 21.2% y-o-y to EGP 281 bn, driven by growth across multiple segments, including engineering and construction (up 51% y-o-y), electrical products (up 43.9% y-o-y), infrastructure investment (up 28% y-o-y), and digital solutions (up 13% y-o-y).

In 4Q 2025, net income after minority interest rose 10.6% y-o-y to EGP 4.7 bn, with revenue rising 21.1% y-o-y to EGP 81.3 bn.

Juhayna sees net income fall, revenues rise in 2025

Dairy giant Juhayna saw its net income dip 18% y-o-y in 2025 to EGP 2.3 bn — a figure broadly in line with 2024’s performance when adjusting for the previous year’s EGP 348 mn in FX losses, according to its latest earnings release (pdf). Revenue was up 23% y-o-y to EGP 30.0 bn, fueled by a stabilizing domestic economy and moderating inflation, which helped revive consumer purchasing power and drive double-digit volume growth across its dairy, fermented, and juice segments, alongside price adjustments and record export sales.

In 4Q 2025, net income jumped 115% y-o-y to 639 mn, and revenues grew 31% y-o-y to EGP 7.8 mn. The dairy company attributed the increase to strong domestic sales and solid product exports.

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ALSO ON OUR RADAR earnings Elsewedy Electric Juhayna Food Industries Madinet Masr

PLANET FINANCE

Out with old hedges, and in with the new

Stagflation is writing the hedge book now. With oil threatening to keep inflation elevated amid softening growth, investors are looking toward alternatives like specific equities, option overlays, CDS, commodities, and the USD for protection while moving away from typical safe havens like bonds.

But first, what exactly is stagflation? Stagflation is what happens when the economy sees a toxic mix of inflation and stagnation of growth — usually accompanied by higher unemployment and tighter monetary conditions. Prices rise, but consumers’ purchasing power dwindles, and low economic growth hits business confidence. This often happens at times of significant supply chain disruptions. We went through what that looks like in practical terms in our explainer a couple of years ago, when similar concerns had been rampant in light of the Covid-19 pandemic and the Russia-Ukraine war.

Bond yields have soared as traders expect slower economic growth and a surge in consumer prices. Two-year US yields climbed about 9 bps on Thursday to their highest since August, while German two-year yields climbed 8 bps to 2.39%, and UK bonds rose as much as 30 bps to 4.17%, though later pared the gains, Bloomberg reports.

Stocks are also victims of the selloff: Global equities have shed USD 6 tn since the war started. In Japan, the Nikkei 225 dropped more than 5% in a single day, the business information service reported elsewhere. The drop was relatively contained in the US, with the S&P 500 falling 0.6% on Friday — but the outlook isn’t looking good. JPMorgan has turned “tactically bearish” on US stocks, while veteran strategist Ed Yardeni assigned the S&P 500 a market meltdown probability of 35%, up from 20% earlier.

So what hedges are proving safe? Goldman Sachs Asset Management has added non-linear downside protection — think protective puts and options — and credit hedges, while Invesco is steering investors toward commodities routed through the Strait of Hormuz — aluminum and grains included — as shipping risk becomes an investable theme.

Currencies are snapping back to instinct: Bloomberg’s USD index is near a two-month high, despite investors entering the conflict positioned for USD weakness — what Barclays strategist Mitul Kotecha described as a market that had been “hedging America” before running back to the USD when the headlines worsened.

Not every refuge looks old-school, though: Chinese equities are holding up on diversified energy supply, Australia’s currency is drawing support from stronger commodity prices, and some Asian managers are rotating into nuclear-energy and digital-economy names instead of classic defensives.

MARKETS THIS MORNING-

Asia-Pacific markets are starting the week mixed, with Japan’s Nikkei and the Shanghai Composite down and the Hang Seng and South Korea’s Kospi in the green, as investors digest the latest developments in the regional war and fluctuating oil prices. Over on Wall Street, stocks are set to open in the red, with futures down this morning.

EGX30	45,927	-1.9% (YTD: +9.8%)
USD (CBE)	Buy 52.49	Sell 52.63
USD (CIB)	Buy 52.48	Sell 52.58
Interest rates (CBE)	19.00% deposit	20.00% lending
Tadawul	10,887	-0.1% (YTD: +3.8%)
ADX	9,480	-1.6% (YTD: -5.1%)
DFM	5,426	-1.7% (YTD: -10.3%)
S&P 500	6,632	-0.6% (YTD: -3.1%)
FTSE 100	10,261	-0.4% (YTD: +3.3%)
Euro Stoxx 50	5,717	-0.6% (YTD: -1.3%)
Brent crude	USD 103.14	+2.7%
Natural gas (Nymex)	USD 3.13	-3.2%
Gold	USD 5,062	-1.3%
BTC	USD 72,513	+1.9% (YTD: -17.2%)
S&P Egypt Sovereign Bond Index	1,032	+0.1% (YTD: +3.9%)
S&P MENA Bond & Sukuk	150.55	-0.4% (YTD: -0.9%)
VIX (Volatility Index)	27.19	-0.4% (YTD: +81.9%)

THE CLOSING BELL-

The EGX30 fell 1.9% at yesterday’s close on turnover of EGP 5.0 bn (23.6% below the 90-day average). Local investors were the sole net buyers. The index is up 9.8% YTD.

In the green: Valmore Holding -EGP (+6.6%), AMOC (+2.9%), and Qalaa Holdings (+0.3%).

In the red: Raya Holding (-4.7%), Rameda (-4.5%), and ADIB (-2.7%).

Tags:

economy Financial Markets inflation investment Planet Finance

Our weekly deep dive into education in Egypt, from K-12 to post-secondary.

Published every Monday in EnterpriseAM.

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BLACKBOARD

Moving the Study in Egypt pitch from the GCC to Africa

The country’s plan to attract Gulf students to Egyptian universities and set up universities in the GCC is undergoing a rethink. With war in the region potentially delaying short-term plans to open up Egyptian university branches in the GCC and complicating its enrollment of students from the Gulf, the Higher Education Ministry is looking to its African neighbors to preempt a possible drop in the number of students if the war continues, two government officials tell EnterpriseAM.

To do this, the government is thinking about upping its outreach by promoting its education offerings and using its cultural offices around the world. A push to offer programs aligned with international labor market needs — with a focus on technology — is expected to help. This type of outreach has already proven to work, with the current academic year witnessing first-time enrollments from Burundi, Mauritius, Guinea, and Comoros, as well as Brazil and Australia, while numbers from Mauritania and Niger have been growing.

The ministry is also working to ease admission procedures to encourage an uptick in enrollment, with measures approved to recognize more foreign credentials, standardize services offered to foreign students across public universities, and build up the country’s Study in Egypt platform with more courses and universities. Graduates of Egyptian universities will also be offered scholarships, amendments will be made to EgyAid to promote cultural exchange programs, and Arabic language assessments for non-native speakers will be standardized.

Egypt may be able to find other interested students from different geographies, but the question is whether they will be able to match the spending power of students from the Gulf. While the average gross national income per capita was USD 77.3k in Qatar, USD 51.6k in the UAE, and USD 35.6k in Saudi Arabia in 2024, according to data from the World Bank, the average in sub-Saharan Africa for the year was just USD 1.6k.

But some think the war could actually increase students’ interest in studying in Egypt, with safety concerns — warranted or not — persuading a segment of students that usually study in Jordan, Saudi Arabia, the UAE, and Kuwait to instead study in Egypt, one of the government officials argued. However, for this to happen, Egypt needs to be proactive in attracting them, we were told.

Why this matters: International students are becoming a key source of hard currency, which matters more than ever with further declining Suez Canal revenues and a big question mark about the trajectory of tourism and remittance inflows over the next period, especially if the war continues for months.

By the numbers: Egypt succeeded in attracting 450k international university students in 2025, up from 125k in 2023, one of the government officials tells us. Arab students account for a large proportion of this, which has been supported by a growing number of international universities and foreign branches of international universities operating in the country, in addition to the breadth of courses offered by the country’s many universities. Alexandria University alone hosts some 70k international students, another source from the sector told us.

Even if we succeed in attracting international students, the country’s push to open up Egyptian universities abroad could be delayed, we were told. While Cairo University and Alexandria University’s new branches in Abu Dhabi and Ajman opened their doors this academic year, further expansion plans by Egyptian universities in the UAE, Qatar, and Saudi Arabia could be delayed if political instability continues in the region, along with travel difficulties. Malaysia could also see delays as a knock-on effect, we were told.

It’s always good to plan ahead, but we may be jumping the gun here, one of the government officials argued. We’re only entering the third week of the war, and we’re still some months out from applications opening up in July for international students looking to study here in the next academic year.

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Blackboard Education

CALENDAR

2026

MARCH

19-23 March: (Thursday-Monday): Eid El Fitr public holiday.

30 March - 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).

APRIL

2 April (Thursday): Monetary Policy Committee’s second meeting of 2026.

12 April (Sunday): Coptic Easter.

25 April (Saturday): Sinai Liberation Day.

MAY

1 May (Friday): Labor Day.

21 May (Thursday): Monetary Policy Committee’s third meeting of 2026.

27-29 May (Wednesday-Friday): Eid El Adha (TBC).

JUNE

30 June (Tuesday): National holiday in observance of the June 30 Revolution (TBC).

JULY

9 July (Thursday): Monetary Policy Committee’s fourth meeting of 2026.

23 July (Thursday): National holiday in observance of Revolution Day (TBC).

AUGUST

20 August (Thursday): Monetary Policy Committee’s fifth meeting of 2026.

26 August (Wednesday): National holiday in observance of Prophet Muhammad’s birthday (TBC).

SEPTEMBER

15 September (Tuesday): IMF to hold its eighth review of Egypt’s USD 8 bn EFF arrangement.

24 September (Thursday): Monetary Policy Committee’s sixth meeting of 2026.

27-29 September (Sunday-Tuesday): Global Conference on Population, Health, and Human Development.

OCTOBER

6 October (Tuesday): Armed Forces Day.

29 October (Thursday): Monetary Policy Committee’s seventh meeting of 2026.

DECEMBER

17 December (Thursday): Monetary Policy Committee’s eighth meeting of 2026.

EVENTS WITH NO SET DATE

Early 2026: Passenger operations on the New Administrative Capital-Nasr City monorail scheduled to begin.

1Q 2026: Trial operations for the Ain Sokhna-Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

May 2026: End of extension for developers on 15% interest rates for land installment payments.

2H 2026: Operations at Deli Glass Co’s new USD 70 mn glassware factory kick off.

2027

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings.

2027: Egypt-EU Summit 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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