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Deficits in the US, China will hurt global economy
The US will record a fiscal deficit of 7.1% in 2025, over three times the 2% average clocked in by…
Economy to grow at a 4.0% clip in preliminary budget report for FY 2024-25
The Madbouly government now sees the economy growing at a 4.0% clip in the coming fiscal year
The FT on the return of investor appetite for local debt
Foreign investors have poured USD 8.5 bn into short-term local debt over the past month
IMF holds its growth forecast steady for Egypt for the current fiscal year
This is the first time in several months that the IMF has not downgraded its growth forecast for Egypt
European Central Bank will likely cut rates this summer
The ECB kept rates unchanged when it met last Thursday
Alexbank’s net income rises 76% y-o-y to EGP 5 bn in 2023. PLUS: Next fiscal year’s draft budget goes up for discussion in the House next week
The government is currently working to offload its 20% stake in Alexbank
CBE raises daily withdrawal limit
The daily limit on over-the-counter withdrawals has been raised to EGP 250k
Current account deficit widens over 440% y-o-y in 1H FY 2023-24
The balance of payments was back in a deficit after two consecutive quarters of recording a surplus
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