Analysts see the CBE holding rates tomorrow

Wednesday, 1 Apr 2026

Analysts see the CBE holding rates tomorrow

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Today at a glance

Big Story Today

War to put easing cycle on ice.

WHAT WE’RE TRACKING TODAY

20 state-owned firms will head to the EGX this month.

DEBT WATCH

Gov’t taps Japan for USD 220 mn in reform and budget support.

Also on our Radar

Gov’t to launch real estate tax app in April.

Also on our Radar

Eni plans USD 2 bn investment push in Egypt.

EGYPT IN THE NEWS

Cairo feels the pinch of early closing hours.

PLANET FINANCE

One month of war could wipe out a year of growth in our region.

HARDHAT

Green building certifications are starting to shape how assets get financed in Egypt.

WHAT WE’RE TRACKING TODAY

20 state-owned firms will head to the EGX this month

Good morning, friends, and welcome to April. We ring in the new month and the second quarter of the year with mixed sentiment — analysts expect the central bank to pause its easing cycle as the regional war continues to pull capital out of Egypt and weaken the EGP against the greenback.

On the bright side: It seems the Madbouly government is getting serious about its privatization plans, setting a 30-day deadline to temporarily list 20 companies on the EGX.

***

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PRIVATIZATION — 10 state-owned companies will temporarily list on the bourse over the coming two weeks, head of the cabinet’s unit dedicated to state-owned companies Hashem El Sayed said during a privatization-focused meeting. By the end of April, another 10 would have made their debut on the bourse, he added.

You heard it here first: Last month, EnterpriseAM reported that 13 state-owned pharma, logistics, industry, and finance companies will file for temporary listings in March, giving each six months to get their paperwork and finances in order before the actual trading begins.

Part of a bigger plan: The goal is to generate USD 3-4 bn in immediate inflows by year-end, part of a larger USD 6 bn target for the upcoming fiscal year.

There’s more where that came from: The meeting also reviewed where things stand with the 40 state-owned companies that will be transferred to the Sovereign Fund of Egypt, confirming news first picked up by EnterpriseAM in March. By consolidating companies under the fund, the government expects to secure higher-value partnerships than it would if it were to sell individual stakes in each firm, a government official previously told us, adding that Egypt Aluminum, Misr Fertilizers Production Company (Mopco), Abu Qir Fertilizers, CID Pharma, Zahraa Maadi for Investment and Development, and Heliopolis Housing will be first on the transfer list.

LOGISTICS — Will Tanzania become the gateway for Egyptian goods to East Africa? Egypt and Tanzania will soon ink an MoU to establish a multi-purpose terminal at Dar es Salaam Port, a shipping line between Egyptian Red Sea ports and Dar es Salaam, and reciprocal logistics zones in both countries, according to a statement from the Transport Ministry.

The planned terminal at Tanzania’s largest city will also open access to six landlocked nations, with the jointly developed port providing a path for Egyptian goods to more easily make it to Malawi, Zambia, the Democratic Republic of Congo, Burundi, Rwanda, and Uganda. Feeding the terminal is a proposed maritime line from Egypt, linking the port of Dar es Salaam with the Red Sea ports of Sokhna and Safaga.

The upcoming agreement also solidifies the proposal we heard about in December to set up a Tanzanian logistics zone in Egypt and vice versa, modeled after a similar agreement with Rwanda. The zones would help increase bilateral investments, support joint industrial work, and better connect the two countries economically. The zone planned for Tanzania is also set to join up with the country’s high-speed rail network to help deliver goods.

CUSTOMS — The Finance Ministry is activating the pilot phase of the Advanced Cargo Information (ACI) system for express couriers today, a move that will become mandatory on 1 May for all airport-based courier firms, a government official told EnterpriseAM.

Under the new regulations, parcels exceeding 50 kg will require a unique ACID number to ensure “tight control” and market protection against substandard goods as the Nafeza platform evolves into a unified trade hub for all Egyptian ports, our source added.

While the full electronic export system has seen its April launch slightly deferred to finalize procedural organizing, the Finance Ministry is simultaneously preparing legislative amendments aimed at reducing customs disputes and slashing clearance times to boost the competitiveness of local exports, according to our source.

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PSA-

Schools are out for the day: The Education Ministry has decided to give students the day off in response to bad weather. It remains unclear whether schools will be closed tomorrow as well, with the ministry saying that it is coordinating with the Egyptian Meteorological Authority before making a decision on the matter.

WEATHER- The rainy weather is back in Cairo today, with showers forecast throughout the day along with potential thunderstorms, along with a high of 26°C and a low of 20°C, according to our favorite weather app.

It’s much the same in Alexandria, with rainy skies and the possibility of thunder storms, along with a high of 22°C and a low of 17°C.

The big story abroad

The news cycle remains fixed on the war in our region, but there may be an end in sight, with US President Donald Trump telling reporters that US forces will leave Iran in two to three weeks. Washington has been able to disable Tehran’s nuclear infrastructure, which will take up to 20 years to re-establish, Trump said.

Watch this space: Trump will deliver “an important update on Iran” in a national address scheduled for early tomorrow.

The resulting energy supply shock still holds sway, with US gasoline prices surpassing USD 4 per gallon — but investors remain confident that the Federal Reserve won’t be hiking rates anytime soon. Instead, investors anticipate the Fed will hold rates or potentially pivot to cuts later this year, wagering that rising energy costs are more likely to stifle economic growth than trigger inflation.

Meanwhile, in the world of AI: OpenAI raised USD 122 bn in a record-breaking funding round, raising its valuation to USD 852 bn. “AI is driving productivity gains, accelerating scientific discovery, and expanding what people and organizations can build. This funding gives us the resources to continue to lead at the scale this moment demands,” the company behind ChatGPT said. The round was led by Japan’s SoftBank.

ALSO WORTH NOTING THIS MORNING- US private equity firms are increasingly showing interest in Japan’s fast food industry. Notable investments include Carlyle Group’s USD 847 mn purchase of KFC’s Japan-based operations and Goldman Sachs’ JPY 70 bn acquisition of the country’s Burger King operations. The trend appears to be underpinned by demographic shifts and rising inflation, which make quick, convenient meals more appealing.

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: EnterpriseAM’s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.

In today’s issue: We take a look at how green building certifications are starting to do more than badge office towers, hotels, and logistics parks in Egypt — they are increasingly helping developers and asset owners make buildings more financeable, more efficient, and more legible to institutional capital.

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The Big Story Today

War to put easing cycle on ice

Will the CBE put its easing cycle on ice tomorrow? A majority of analysts and economists polled by EnterpriseAM expect the Central Bank of Egypt’s Monetary Policy Committee (MPC) to leave interest rates unchanged at its meeting on Thursday, marking a sharp shift from February’s “crisis management is over” narrative as regional tensions trigger capital outflows, EGP depreciation, and a surprise fuel price hike.

Of the 14 analysts surveyed, 11 predict a hold, while two see a potential 100 bps hike as a preemptive move against inflation, and one remains split. Not a single respondent expects the CBE to continue its easing cycle.

The supply shock dominates the outlook: Analysts broadly agree that inflationary pressures are being driven by external supply shocks rather than domestic demand, limiting the effectiveness of rate hikes. “The current inflation is resulting from factors unrelated to supply and demand for goods... it cannot be treated by raising interest rates to absorb liquidity,” former Industrial Development Bank Chairman Maged Fahmy told us, arguing that a hold would avoid a sharp policy reversal.

Real rates remain a cushion: Despite rising inflation expectations, Egypt’s high real interest rates provide room for maneuver. “The CBE already possesses a relatively comfortable margin thanks to the high real interest rate, allowing for some inflation rise without the need for an immediate response,” Thndr’s Esraa Ahmed told us.

Flexible FX changes the game: Al Ahly Pharos’ Hany Genena notes that unlike the 2022 crisis, the EGP is now moving more flexibly. “What we are witnessing currently is primarily a balance of payments shock, not an exchange rate distortion,” Genena says, adding that real interest rates remain high enough to preserve the “attractiveness of local debt instruments” without further tightening.

Anticipating a March spike: Those leaning toward tightening point to lagging inflation data, with March figures due 10 April expected to reflect the full impact of a 19% fuel price hike and the EGP’s slide to just under 55.00/USD. “The CBE must take a preemptive decision to hedge against this inflationary wave,” says veteran analyst Ehab Said, who expects a 100 bps hike. He points to the 150 bps rise in six-month T-bill yields in March as a signal that the market is already pricing in a move.

Former Banque Misr Deputy Chair Sahar El Damaty also flagged a hike as a secondary but plausible scenario B. “The MPC could take a preemptive decision to raise interest rates — perhaps by about 100 bps — if forecasts show a significant rise in inflation, especially with the increase in oil prices,” she noted, though she ultimately leans toward a hold.

The new inflation reality: Analysts have aggressively revised up their inflation outlook for 2Q 2026. Faisal Islamic Bank’s Iman Marei expects the CBE to pause to assess the triple threat of geopolitics, inflation, and fuel prices. Beltone’s Ahmed Hafez expects March’s monthly momentum to hit 3%, driving annual headline inflation to a nine-month high of 15%. HC Securities’ Heba Monir revised her 2026 average inflation forecast to 13-14% (up from 10-11%), noting that USD 4 bn in foreign outflows from the T-bill secondary market since 1 March necessitates a cautious stance. EFG Hermes chief economist Mohamed Abu Basha leads with the most pessimistic outlook, expecting inflation to sit in the 15-16% range.

Several global institutions now expect a slower easing path throughout the year, with Deutsche Bank cutting its forecast for total rate cuts in 2026 and signaling that “the CBE is likely to remain on hold through the first half of the year,” citing “upside risks to inflation and challenging external context.” Capital Economics’ Jason Tuvey echoed the view, noting that while the CBE will “tread more carefully,” a hike would only be triggered by “a sharp and sustained rise in global energy prices and/or severe pressure on the EGP.”

The easing cycle has effectively hit a wall. As economist Hany Abou El Fotouh puts it: “We are seeing a shift in CBE policy: from stimulating growth to defending the stability of the EGP and confronting the high cost of living.”

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Central Bank of Egypt economy interest rates monetary policy THE BIG STORY TODAY

DEBT WATCH

Gov’t taps Japan for USD 220 mn in reform and budget support

The Madbouly government has secured a new JPY 35 bn loan — equivalent to USD 220 mn — from Japan to shore up the budget and grease the wheels of private-sector reform, according to a loan agreement reviewed by EnterpriseAM.

The loan carries a 1.5% interest rate and a 20-year repayment schedule, including a 10-year grace period. In exchange for the concessional funds, the government has committed to a reform program designed to diversify the economic base and reduce the state’s footprint.

Why it matters: As commercial borrowing costs are still elevated, the government is leaning on bilateral partners to find fiscal breathing room while meeting foreign currency requirements. By tying the funds to private-sector benchmarks, the agreement signals a continued push to move the needle on structural reforms that have often stalled at the implementation phase.

AND- Parliament greenlit a KWD 300k grant from the Arab Fund for Economic and Social Development to help finance a feasibility study for increasing the capacity of the Egypt-Jordan interconnection line. The move to increase the current 400 MW capacity to 2 GW is meant to serve as a vital part of the Eight Country Interconnection Project connecting Egypt, Iraq, Jordan, Libya, Lebanon, Palestine, Syria, and Turkey under the Arab Interconnection Project.

Tags:

budget debt watch development finance Egypt-Japan relations

EGYPT IN THE NEWS

Cairo feels the pinch of early closing hours

The unusually quiet and dark streets of Cairo are catching the attention of the international press. Reuters and the Associated Press are both out with pieces interviewing cafe and shop owners and workers to get the on-the-ground reaction to the government’s decision to shut select businesses early to tackle rising energy costs and potential energy shortages. Since Saturday, shops, malls, restaurants, and cafes have been forced to close at 9pm on weekdays and 10pm on Thursdays and Fridays.

Small customer-facing businesses are already feeling the hit, with one cafe owner telling the AP that early closing cutting off the establishment’s peak hours has been “ruinous,” forcing him to cut 40% of his 35-strong workforce. Another cafe owner interviewed by Reuters said staff are now alternating shifts to manage reduced working hours, while the manager of an accessories store said that revenues have halved while costs remained. “You still have employees, rent, electricity and water bills... and there are taxes,” he explained.

Tags:

economy Egypt in the News energy

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Also on our Radar

Real estate tax services are coming to your phone

Gov’t to launch real estate tax app in April

The Finance Ministry plans to roll out a mobile application in mid-April offering end-to-end real estate tax services — from registration to payment — as part of a broader push to digitalize and simplify tax procedures, according to a statement from the Egyptian Tax Authority.

Why this matters: The move is part of a broader push to ease compliance, improve service delivery, and encourage businesses to join the tax system. The initiative aims to broaden the tax base so the country can bring in a planned EGP 3 tn in taxes and fees in the next fiscal year — contributing some three quarters of total revenues. With rising global energy prices and other knock-on effects from the war on Iran squeezing state coffers, the state will likely increase its focus on finding ways to to increase tax revenues in the months to come.

Eni plans USD 2 bn investment push in Egypt

Italy's Eni is planning to invest USD 2 bn in Egypt during 2026 to expand exploration and ramp up production from existing gas fields, CEO Guido Brusco told Prime Minister Mostafa Madbouly on the sidelines of the Egypt Energy Show, according to a cabinet statement.

A EUR 600 mn medical hub in the pipeline

New Cairo is getting a medical hub: Midar Investment and Urban Development has signed an MoU with Italy’s Gruppo GKSD to set up an integrated medical hub in New Cairo’s Mada City with an investment of EUR 500 mn to 600 mn, according to a press release (pdf).

The project covers healthcare, research, and education. It will include a hospital with a 500-bed capacity, a meds facility that can accommodate up to 5k students, and a research and training center.

Orascom Construction sees revenues and net income surge in 2025

Orascom Construction reported a 65.1% y-o-y increase in net income to USD 194.8 mn in 2025, while revenues climbed 55.1% y-o-y to USD 5.0 bn, according to its latest earnings release (pdf). Growth was driven by progress across major projects in Egypt, the UAE, Saudi Arabia, and the US, alongside stronger performance across all operating segments and contributions from BESIX.

The company’s construction backlog reached its highest-ever year-end level, rising 18.9% to USD 9.0 bn. The company attributed the growth to its “continued focus on critical infrastructure sectors such as power, water, renewable energy, transportation, and data centers, where investment demand across our core geographic markets remains robust.” Also driving growth was an 80.6% increase in its US backlog to now account for 32.1% of the total across all geographies. Over the same period, new awards rose 86.6% y-o-y to USD 5.6 bn.

Rameda revenues up 48% in 2025, but bottom line down

Rameda reported a 48% y-o-y increase in revenues to EGP 4.1 bn in 2025, the pharma company said in its latest earnings release (pdf). Growth was driven by a 37% jump in private sales on the back of better product availability and repricing, while tender sales grew 131% as the Unified Procurement Authority normalized its procurement activity. Exports increased 71% due to regional expansion and recovery in Iraq, its main export market.

Despite this, net income fell 22% y-o-y to EGP 313 mn for the 12-month period, weighed down by a one-off EGP 99 mn provision tied to receivables and a 73% rise in financing costs.

Halan closes EGP 2.2 bn securitization issuance

Consumer Finance player Halan raised EGP 2.2 bn via a securitized bond issuance as part of a broader EGP 11.5 bn securitization program, according to a statement (pdf) from Matouk Bassiouny & Hennawy, which acted as counsel on the transaction. The bond was rated by Meris, while CI Capital served as financial advisor, Baker Tilly as auditor, and Capital Securitization was the securitization vehicle.

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ALSO ON OUR RADAR debt earnings energy Eni MNT-Halan oil and gas Orascom Construction pharma Rameda real estate securitization tax

PLANET FINANCE

How much is the war costing the region?

A month of high-intensity military escalation is enough to derail the Arab States’ development trajectory, according to a high-level UNDP preliminary assessment report (pdf), which estimates up to USD 194 bn in GDP losses across the region. The study warns that even a “short-lived” month-long conflict is currently generating profound, persistent socio-economic scars.

Regional GDP is estimated to contract by 3.7% to 6%. Economic shocks from trade, energy, and finance are exacerbating already existing systemic weaknesses in the region when it comes to “economic diversification, dependence on external markets, [labor] market composition, and fiscal capacity,” the report highlights. The impacts are mainly felt through higher prices and inflationary pressures, which will “erode real incomes.”

A surge in poverty will be the starkest human impact, with nearly 4 mn additional people at risk of falling below the poverty line under high-intensity scenarios. The Levant, Sudan, and Yemen are the epicenter, accounting for roughly 75% of this spike (up to 3.3 mn people).

There are wider human repercussions too: The Human Development Index (HDI), which measures key indicators like life expectancy, living standard, and education, is projected to drop by 0.2-0.4%, effectively erasing six to 12 months of development progress. In the Levant, that setback is more severe, potentially rolling back the clock by 1.5 years.

Unemployment is expected to rise by 1.8% to 4%, equivalent to 1.6 mn to 3.6 mn lost jobs. Unskilled workers are likely to bear the brunt of it, particularly in the GCC, where the labor market remains highly exposed to external shocks.

The GCC and the Levant face the sharpest macroeconomic contractions, with both subregions expected to lose between 5.2% and 8.7% of their GDP. Sustaining stability now requires moving beyond hydrocarbon-heavy balance sheets toward diversified production bases and “shock-proof” logistics capable of surviving a closed strait, UN Assistant Secretary-General and Director of the UNDP Regional Bureau for Arab States Abdallah Al Dardari explained.

MARKETS THIS MORNING-

Asia-Pacific markets are up this morning following hopeful comments from US President Donald Trump regarding a potential end to the Iran war. Japan’s Nikkei is up almost 4%, and South Korea’s Kospi rose by more than 6%. Over on Wall Street, futures are trading higher.

EGX30	45,322	+0.3% (YTD: +8.4%)
USD (CBE)	Buy 54.53	Sell 54.66
USD (CIB)	Buy 54.53	Sell 54.63
Interest rates (CBE)	19.00% deposit	20.00% lending
Tadawul	11,250	+0.7% (YTD: +7.2%)
ADX	9,521	-0.1% (YTD: -4.7%)
DFM	5,434	-0.2% (YTD: -10.1%)
S&P 500	6,529	+2.9% (YTD: -4.6%)
FTSE 100	10,176	+0.5% (YTD: +2.5%)
Euro Stoxx 50	5,570	+0.5% (YTD: -3.8%)
Brent crude	USD 103.97	-3.2%
Natural gas (Nymex)	USD 2.89	+0.1%
Gold	USD 4,719	+0.9%
BTC	USD 68,252	+2.2% (YTD: -22.1%)
S&P Egypt Sovereign Bond Index	1,032	-0.8% (YTD: +3.9%)
S&P MENA Bond & Sukuk	149.02	+0.2% (YTD: -1.9%)
VIX (Volatility Index)	25.27	-17.5% (YTD: +72.4%)

THE CLOSING BELL-

The EGX30 rose 0.3% at yesterday’s close on turnover of EGP 7.2 bn (9.9% above the 90-day average). Local investors were the sole net buyers. The index is up 8.4% YTD.

In the green: Arabian Cement (+5.7%), Orascom Construction (+3.2%), and Valmore Holding -EGP (+2.7%).

In the red: Eastern Company (-2.1%), Ibnsina Pharma (-2.0%), and GB Corp (-1.4%).

Tags:

economy Financial Markets Planet Finance

HARDHAT

Green(back) building certifications

Green building certifications are starting to do more than badge office towers, hotels, and logistics parks in Egypt — they are increasingly helping developers and asset owners make buildings more financeable, more efficient, and more legible to institutional capital. As developers, banks, and DFIs put more weight on energy efficiency, water use, and long-term operating performance, certifications like LEED and EDGE are beginning to function less as prestige labels and more as a common language for proving that a building meets a more investable standard.

Sound smart: Green certification is ultimately about how a building performs and meeting a list of standardized benchmarks to prove this. That usually means measuring energy use, water efficiency, materials, and the systems that shape how expensive and climate-friendly a building is to run over time — from cooling and heating to power, waste, and water-saving infrastructure.

Why capital is paying attention

Green certification matters because it can bring in capital that would not otherwise show up. “When you go green, you bring in a different investor base. You have a set of investors who won’t come except for responsible or sustainable finance; they won't come for normal financing,” European Bank of Reconstruction and Development (EBRD) Deputy Head of Egypt for Financial Institutions Hashem Abdel Hakim tells us.

That logic is already showing up in how projects are financed. Orascom Development’s El Gouna CEO Mohamed Amer explains to EnterpriseAM that “while sustainability was already embedded in our operations,” the plan for its hotels to achieve EDGE certification played “an important enabling role” in Orascom Development Egypt securing a USD 155 mn sustainability-linked loan from the IFC because it provided “globally recognized, measurable benchmarks in energy and water efficiency” that financial institutions “can evaluate with confidence.” The loan came with “a favorable repayment period and interest rate,” he added, including a 2.5-year grace period within an 8.5-year tenor, and was secured “at a lower interest cost than our previous financing.”

For developers, the value is not just cheaper funding. Certifications have become “an important reference point for international capital” because “ESG compliance has become a standard part of institutional due diligence, and certified assets offer transparency, measurable performance, and lower transition risk,” Amer said. This helps strengthen “competitiveness, liquidity, and buyer appetite, particularly in hospitality portfolios.”

Banks are also starting to treat certified assets as better-positioned sustainability plays, even if certification is not yet overriding core credit decisions. ADCB Egypt tells us that green-certified assets “may demonstrate stronger risk positioning due to operational efficiency and transition readiness,” while also supporting alignment with “sustainability-linked financing requirements and international stakeholder expectations.” As Abdel Hakim put it, “It’s not strictly lower credit risk,” but rather lower ESG and climate-related risk. ADCB made a similar point, saying energy efficiency helps strengthen “cashflow resilience,” while sustainability alignment improves “long-term transition readiness and reputational risk management.”

How this translates into practice

Orascom Development’s hotel upgrade program shows what that looks like on the ground. Amer explains that access to IFC financing helped it step up “energy renovations and capital expenditure” across hotels in El Gouna to help them tick off all the necessary boxes to get certified. Upgrades focused on “installing heat pumps, expanding solar heating systems, introducing smarter energy management solutions, and implementing advanced water-saving technologies.”

“The commitment to EDGE certification did not introduce a new philosophy for us, but it provided a structured, internationally recognized framework that supports and validates what we have already been implementing,” he added. While the coastal city had already become the first town in the Middle East to receive the UN Green Award, been a Green Globe-certified destination since 2014, and demonstrated impressive levels of renewable energy use and water reuse, what the access funds did was help El Gouna “to accelerate its energy renovations and capital expenditure program.”

The same logic applies beyond hospitality. Beko’s Egypt factory was designed to meet LEED Gold standards, with its waste and energy management systems built to comply with the certification requirements — another example of how green building standards are starting to shape the actual technical setup of industrial and commercial assets.

The shift is already showing up across offices, logistics, industry, hospitality, and financing. Paragon’s Paragon.2 Financial District in the New Capital secured LEED Gold before the developer moved into advanced talks for EGP 400 mn in green financing. ADCB Egypt, meanwhile, recently obtained EDGE certification for its New Cairo headquarters and 11 branches, which make up 20% of the lender’s branch network nationwide.

The same pattern is showing up in industrial and logistics assets. Yanmu East Logistics Park — the JV between Hassan Allam Utilities and Kuwait’s Agility Logistics Park — secured EDGE Advanced certification for its warehouses, while Beko’s Egypt factory was designed to meet LEED Gold standards.

Green-certified buildings are also starting to connect more directly to financing flows. IFC is planning a USD 150 mn sustainable loan for Banque Misr, with 30% earmarked specifically for green building finance — another sign that certification and green building standards are becoming more relevant to how capital is allocated in the local market.

Why this still isn’t standard

Even with this momentum, green certification is still not the default in Egypt. ADCB Egypt tells us the biggest frictions include “limited sustainability data availability, varying levels of client awareness, certification, and technical implementation costs in certain sectors, and the need for broader market readiness across the value chain.” That means certified buildings are becoming more important — but still mainly for larger, more institutionally oriented assets. For now, green certification remains more differentiator than default, but the direction of travel is clear as lenders, DFIs, and bigger developers put more weight on efficiency, resilience, and climate readiness.

Tags:

construction development finance Green Economy Hardhat real estate

CALENDAR

2026

APRIL

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

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

15 June (Monday): Seventh review of the IMF’s Extended Fund Facility

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.

July 2026: British Prime Minister Keir Starmer set to visit Egypt.

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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