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We’re on track to meet tourism targets despite Gaza war, says Issa
Less than 10% of bookings have been canceled in the four weeks since the start of the conflict
Daily blackouts may be reduced to one hour on the back off increased mazut and gas imports
Good morning, wonderful people. We have a couple of pieces of good news with which to kick off this morning’s…
Economic growth almost halves to 3.8% in 22-23 –Planning Ministry
Egypt recorded growth of 3.8% in FY 22-23, with forecasts for FY 2023-24 at 4.2%
FinMin takes USD 500 mn samurai bond issuance to market
Our second Samurai bond issuance is part of the government’s efforts to diversify its debt
Cabinet extends budget cutbacks through to June 2024 amid FX crisis
The cabinet brings back restrictions on USD government spending
Oil Ministry to launch gold exploration tender early 2024
The tender will include 13 concessions in Shalateen and Aswan
MPs approve fresh borrowing, oil exploration
The government will borrow USD 500 mn from Deutsche Bank and Bank ABC to fund healthcare and education spending
October tourism arrivals on track to close up 10% despite war; officials aim to keep airlines and operators engaged with incentives + marketing spend
Incentives, spending aim to drive demand while keeping airlines, wholesalers, and retail distributors committed
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