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The pandemic hasn’t been kind to our current account
The pandemic hasn’t been kind to Egypt’s current account: Egypt’s current account deficit more than tripled to USD 3.83 bn…
2.3 mn jobs were lost during lockdown
Some 2.3 mn jobs were lost during the lockdown in 4Q2019-2020, according to statistics in the Finance Ministry report (pdf)…
What the markets are doing on 29 November 2020
The EGX30 fell 0.8% on Thursday on turnover of EGP 1.6 bn (42% above the 90-day average) as foreign investors…
Economy to grow at 2.8-4% clip next fiscal year, Maait says
Egypt’s economy is expected to grow between 2.8-4% in FY2021-2022, Finance Minister Mohamed Maait told DMC over the weekend (watch,…
Fawry and Banque du Caire sign contract for remittance transfer service
EGX-listed e-payments platform Fawry and Banque du Caire have signed a contract to set up an instant remittance transfer service…
Gov’t revises FY2020/21 GDP forecast upwards to 3.8%
Gov’t GDP forecast revised upwards:The government expects the economy to grow at a 3.5-3.8% clip in the current fiscal year,…
Egypt ready to dole out more stimulus if covid-19 second wave hits
The government is prepared to dole out further stimulus should a second wave of covid-19 take hold in Egypt, Finance…
Maait promises no new taxes in fiscal update
Maait promises no new taxes in fiscal update: Egypt’s economy is expected to grow by 3.3% in the current financial…
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