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Credit risk is falling in the banking sector
An improving operating environment since 3Q2020 has eased pressure on Egyptian banks’ credit profiles and ratings, according to a Fitch…
Suez receipts rise in April following Ever Given debacle
Suez Canal revenues rose almost 16% y-o-y in April, coming in at USD 551.5 mn from the USD 476.2 mn…
Egypt’s GDP is on track to grow 4.2% in 2021 –RenCap
Renaissance Capital revised upwards its projections for Egypt’s GDP growth to 4.2% in 2021, driven by growth in transport, tourism,…
Remittance inflows survive 2020 despite pandemic
Egypt’s remittance inflows defied expectations to grow more than 10% in 2020 despite the shock of the pandemic, a trend…
Foreign reserves inch up c. USD 100 mn in February
The nation’s foreign currency reserves rose nearly USD 100 mn in February, ending the month at USD 40.2 bn, according…
Egypt in the News on 28 February 2021
It’s a mixed bag of nothing and everything for Egypt in the foreign press this morning. A handful of stories…
Tourism losses piling up
Egypt has foregone USD 14 bn in foreign currency revenue thanks to the pandemic wreaking havoc on tourism, Finance Minister…
The Suez Canal is preparing for another trade slowdown
More breaks at the Suez Canal: Liquified petroleum gas shippers will continue to pay lower Suez Canal transit fees until…
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