{"id":614919,"date":"2024-02-09T00:00:00","date_gmt":"2024-02-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/"},"modified":"2024-02-09T00:00:00","modified_gmt":"2024-02-09T00:00:00","slug":"this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/","title":{"rendered":"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation"},"content":{"rendered":"

Good morning, folks, and happy Friday. <\/strong>We don\u2019t know about you all, but we\u2019re quite relieved the weekend is finally here. <\/p>\n

We\u2019re at the time of year when most new year\u2019s resolutions have already failed, most <\/strong>likely including resolutions for improved eating habits.<\/strong> While there are plenty of reasons this resolution in particular tends to fall through \u2014 not least of which is the temptation of takeout when you don\u2019t have the time, energy, or skills to cook for yourself at home. <\/p>\n

Some people have taken to meal-prepping<\/strong> \u2014 which has recently gained popularity on social media \u2014 but in reality, it is time-consuming and the gear is expensive, plus kitchen and fridge space is also an issue. So let\u2019s bid adieu to kitchen chaos with our list of Egypt\u2019s meal prep services, the ultimate convenience of having chef-crafted, healthy meals delivered straight to your doorstep.<\/p>\n

Enterprise Weekend comes out each Friday at 9:00am CLT.<\/strong> We\u2019ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.<\/p>\n

LAST WEEK IN 3 MINS-<\/p>\n

ECONOMY-<\/strong><\/p>\n

#1- Everyone is sitting tight waiting for t<\/strong>he IMF agreemen<\/strong>t: <\/strong>IMF staff and Egyptian officials are close to finalizing a new financial support package for Egypt, the Fund\u2019s Managing Director Kristalina Georgieva said during a media roundtable<\/a> last week. \u201cWe are in this very last stretch where we are working on the details of implementation \u2026 we\u2019re not talking about a long protracted period at all,\u201d Georgieva said.<\/p>\n

But no word on how big the package will be: <\/strong>There\u2019s no consensus on how big the loan will be, with local and international outlets putting the figure between USD 6-12 bn, with the latest report<\/a> suggesting we could get USD 6 bn from the IMF and another USD 6 bn from \u201cdevelopment partners.\u201d Our sources agree, with seven who have knowledge of the talks putting the package in that range. It appears we have two options: Go for a gradual, managed float and take on less funding \u2014 or go for a full float and get a larger assistance package.<\/p>\n

#2- El Sisi announces EGP 180 bn social safety net package:<\/strong> The government will<\/a>implement<\/a> a set of measures from the beginning of March including public-sector wage hikes, income tax breaks, pension increases, and a 50% rise to the public-sector minimum wage to EGP 6k. The package also includes early bonuses for civil servants, better wages for educators, doctors, and nurses, and personal income tax breaks. <\/p>\n

#3- (Some) closure on Ras El Hekma:<\/strong> The General Authority for Freezones and Investments (GAFI) has tapped a consortium of unnamed Emirati investors to take over the USD 22 bn development of a plot of land in the North Coast\u2019s Ras El Hekma, GAFI head Hossam Heiba said<\/a> on Wednesday. <\/p>\n

The two sides have wrapped negotiations and are gearing up to sign contracts<\/strong>, Heiba said, days after local and social media were awash with rumors about the government planning to sell<\/a> a huge piece of land in Ras El Hekma. Prime Minister Moustafa Madbouly alluded to the agreement at yesterday\u2019s cabinet meeting<\/a>, saying a legal and technical team are reviewing investment offers \u201cyielding significant foreign currency revenues,\u201d without specifying further. <\/p>\n

#4- Our net foreign asset deficit hit a new record high in December<\/strong>, as pressures keep mounting on the country\u2019s external position. Our net foreign asset deficit inched up<\/a> to over USD 27.2 bn, after retracting<\/a> to USD 27 bn in November, according to Enterprise calculations of Central Bank of Egypt figures.<\/p>\n

#5- Inflation <\/strong>decelerated<\/a><\/strong> for the fourth consecutive month in January<\/strong>, falling below the 30% mark for the first time since January 2023. Annual urban inflation came in at 29.8%, cooling from 33.7% in December. <\/p>\n

PRIVATIZATION-<\/strong><\/p>\n

Curtain closes on bidding for Wataniya: <\/strong>Planning Minister and Sovereign Fund of Egypt (SFE) Chair Hala El Said told Asharq Business on Tuesday that investors have 48 hours to submit their final bids<\/a> for the military-owned filling station operator. The fuel retailer sale \u2014 along with that of the bottled water company Safi \u2014 has been in the works for the past three years<\/a>. Taqa Arabia<\/a> was the only firm to have publicly declared interest in the fuel retailer, but several other companies have been said to be lodging bids, including Abu Dhabi National Oil Company (Adnoc) and Shell.<\/p>\n

MANUFACTURING-<\/strong><\/p>\n

Sherif El Zayat stepped down as CEO of EK Holding last week to start a new chapter<\/strong> that will see him focusing on the growth of two family-owned packaging businesses and other ventures that could see him deploy tens of mns of USD in Egypt in the years to come. <\/p>\n

** We sat down with Sherif El Zayat after the announcement<\/strong> to talk about his time at EK Holding, his future plans, and why he believes in Egypt as a promising hub for exports to Europe and beyond.You can check out the full interview here<\/a>.<\/p>\n

TOURISM-<\/strong><\/p>\n

The GEM is almost ready: <\/strong>Officials are putting the final touches<\/a> on the Grand Egyptian Museum to wrap up preparations for the opening by the end of this month and officially receive visitors shortly after that. <\/p>\n

WAR WATCH<\/strong><\/p>\n

El Sisi + Blinken on Gaza ceasefire: <\/strong>US Secretary of State Antony Blinken was in Egypt<\/a> on Tuesday to meet President Abdel Fattah El Sisi for Gaza and Red Sea attacks-centered talks. The meeting \u201cfocused on developments in unyielding efforts aimed at reaching a ceasefire in the Gaza Strip, exchanging detainees and providing access to needed relief aid,\u201d according to an Ittihadiya statement<\/a>.<\/p>\n

Israeli Prime Minister Benjamin Netanyahu scuttled all hope of an imminent ceasefire <\/strong>on Wednesday evening by rejecting Hamas\u2019 ceasefire terms presented the day before, telling reporters that \u201cthere is no other solution but a complete and final victory\u201d (watch, runtime; 23:00<\/a>). <\/p>\n

\n

AROUND THE WORLD IN SEVEN DAYS- <\/p>\n

<\/p>\n

Our region was once again in the spotlight of the international press this week \u2014 but<\/strong> unfortunately for all the wrong reasons: <\/strong>The US carried out more airstrikes on Yemen on Sunday, days after it launched airstrikes on some 85 targets in Iraq and Syria with reported ties to Iran\u2019s Revolutionary Guards Corps (IRGC), killing 40 and compounding fears of regional escalation, Reuters<\/a> reported.<\/p>\n

The increase in hostilities further dwindled Red Sea freight traffic:<\/strong>The Suez Canal\u2019s monthly receipts in January fell 47% y-o-y to USD 428 mn<\/a>, as the number of ships passing through the waterway dwindled to almost 37% to 1.4k last month because of Houthi attacks on vessels in the Red Sea and US-led strikes in the region. <\/p>\n

And prospects for the resumption of global trade are looking grim<\/strong>: Japanese shipping firm Mitsui OSK Lines thinks Red Sea escalations could hold up global trade for up to a year, CEO Takeshi Hashimoto told Bloomberg<\/a>. \u201cThe situation will continue at least for the coming two or three months. And as a worst case scenario, six months or one year,\u201d Hashimoto said. Meanwhile, Maersk said yesterday<\/a> it\u2019s suspending share buybacks in light of \u201chigh uncertainty\u201d about future earnings because of the Red Sea conflict.<\/p>\n

WHILE IN BUSINESS NEWS- McDonald\u2019s 4Q revenues fall short of estimates amid<\/strong> MidEast boycotts<\/strong>,according to its latest earnings release (pdf)<\/a>. The company\u2019s sales in its international developmental licensed markets segment edged up just 0.7% during the quarter, compared to estimates of 5.5%, according to LSEG data cited by Reuters<\/a>.<\/p>\n

THE EGYPT ANGLE- <\/strong>McDonald\u2019s is one of several Western goods and brands that have been subject to boycotts in the Middle East due to its perceived support for Israel. McDonald's Egypt has been trying to get in Egyptian\u2019s good grace \u2014 reiterating the fact that it is 100% Egyptian-owned<\/a> and announcing an EGP 20 mn donation<\/a> to those in need in Gaza.<\/p>\n

AND OVER IN THE UK- King Charles III has been diagnosed with \u201ca form of cancer\u201d<\/strong> at the age of 75, a year and a half after coming to the throne, according to a statement<\/a> released by Buckingham Palace yesterday. <\/p>\n

\n
\n
\n
\n

Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\u26c5 <\/strong>THE WEATHER THIS WEEKEND- <\/strong>Look out for partly cloudy days this weekend with today bringing us a high of 23\u00b0C and tomorrow peaking at 22\u00b0C, with both days set to see a nighttime low of 10\u00b0C. <\/p>\n

HAPPENING THIS WEEKEND- <\/strong><\/p>\n

Ebni<\/a><\/strong> is back at <\/strong>Rawabet Art Space<\/a><\/strong>: <\/strong>The play, an adaptation of God of Carnage by Yasmina Reza, demonstrates how two different families react when their children get into a fight,and as the play unfolds their true colors are revealed. Catch the performance starting today, or next Tuesday and Wednesday, 13 and 14 February at 8pm and on Saturday, 10 February at 5pm. Book your tickets here<\/a>. <\/p>\n

Head to The Tap West for <\/strong>It\u2019s Not Unusual<\/a><\/strong>, a two-day showcase of live performances, <\/strong>good food, and drinks <\/strong>hosted by ACT Theatre Group<\/a>. The event runs today and tomorrow, starting at 7pm. Send The Tap West<\/a> or ACT<\/a> a message to reserve.<\/p>\n

The Grand Egyptian Museum will be hosting Tunisian songstress Emel Mathlouthi <\/strong>tonight<\/strong>, so hurry and grab a ticket<\/a>. The Voices of Hope concert will start promptly at 9pm.<\/p>\n

Hamza Namira will be dropping his album at a <\/strong>concert<\/a><\/strong> hosted by ZED park<\/strong> tonight at 8pm. The park\u2019s gates will open at 2pm but the concert gates will open later at 6pm. You can get your tickets here<\/a>, with the option of regular standing, VIP standing, or VIP seated.<\/p>\n

Egyptian independent artist and multi-instrumentalist ASH will be performing at <\/strong>Le Lac<\/a><\/strong>Du Caire<\/a><\/strong> tonight. Hosted by CRCL, the event will start at 1pm and doors will close at 4pm. Get your tickets here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, folks, and happy Friday. We don\u2019t know about you all, but we\u2019re quite relieved the weekend is finally here. We\u2019re at the time of year when most new year\u2019s resolutions have already failed, most likely including resolutions for improved eating habits. While there are plenty of reasons this resolution in particular tends to […]<\/p>\n","protected":false},"author":1,"featured_media":614920,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7287],"tags":[271,104,6653,272,6654],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-week-in-review","tag-central-bank-of-egypt","tag-economy","tag-enterprise-weekend","tag-imf","tag-the-week-in-review","wpautop","entry"],"acf":{"mongo_id":"0779944f-abe1-4683-a6a7-8191f62e0f03","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/2\/618.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation","related_issue":[614917],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.bd33e848-00f0-4b79-9a4a-ba4f35706732.mp3"},"yoast_head":"\nTHIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation\" \/>\n<meta property=\"og:description\" content=\"Good morning, folks, and happy Friday. We don\u2019t know about you all, but we\u2019re quite relieved the weekend is finally here. We\u2019re at the time of year when most new year\u2019s resolutions have already failed, most likely including resolutions for improved eating habits. While there are plenty of reasons this resolution in particular tends to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-09T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation\",\"datePublished\":\"2024-02-09T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/\"},\"wordCount\":1613,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Central Bank of Egypt\",\"economy\",\"Enterprise Weekend\",\"IMF\",\"THE WEEK IN REVIEW\"],\"articleSection\":[\"THE WEEK IN REVIEW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/\",\"name\":\"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-02-09T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/","og_locale":"en_US","og_type":"article","og_title":"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation","og_description":"Good morning, folks, and happy Friday. We don\u2019t know about you all, but we\u2019re quite relieved the weekend is finally here. We\u2019re at the time of year when most new year\u2019s resolutions have already failed, most likely including resolutions for improved eating habits. While there are plenty of reasons this resolution in particular tends to […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-02-09T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation","datePublished":"2024-02-09T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/"},"wordCount":1613,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1","keywords":["Central Bank of Egypt","economy","Enterprise Weekend","IMF","THE WEEK IN REVIEW"],"articleSection":["THE WEEK IN REVIEW"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/","name":"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1","datePublished":"2024-02-09T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/09\/this-weekend-an-econ-heavy-week-between-new-murmurs-on-the-imf-program-an-egp-180-bn-social-package-and-cooling-inflation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"THIS WEEKEND: An econ-heavy week, between new murmurs on the IMF program, an EGP 180 bn social package, and cooling inflation"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/618.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":634631,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/21\/what-were-tracking-this-week-74\/","url_meta":{"origin":614919,"position":0},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"21 January 2018","format":false,"excerpt":"Are you headed to the Arqaam Capital Egypt Investors Conference in Cape Town, South Africa, tomorrow? If so, you may find it interesting to know that Cape Town could soon become one of the first major cities in the world \u201cto shut down entirely the supply of running water to\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":585350,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/14\/lots-of-macro-updates\/","url_meta":{"origin":614919,"position":1},"title":"Lots of macro updates","author":"enterpriseam admin","date":"14 April 2023","format":false,"excerpt":"Good morning, friends. As we approach two shortened workweeks and the final week of Ramadan, we hope your long weekend plans involve some much-needed relaxation and downtime.REMEMBER- Banks are taking next Sunday, 16 April off to mark Coptic Easter (though it\u2019s not a public holiday), while Sham El Nessim \u2014\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/594.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634690,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/what-were-tracking-this-week-75\/","url_meta":{"origin":614919,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"22 January 2018","format":false,"excerpt":"The IMF is expected to issue the report on its second review of Egypt\u2019s economic reform program tomorrow afternoon. The IMF board had signed off on the results of the review in December, unlocking a USD 2 bn tranche of its USD 12 bn Extended Fund Facility to Egypt. The\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":585549,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/20\/today-happy-eid-al-fitr-the-imfs-recommendations-for-our-economy-and-more-from-last-week\/","url_meta":{"origin":614919,"position":3},"title":"TODAY: Happy Eid al-Fitr + the IMF\u2019s recommendations for our economy and more from last week","author":"enterpriseam admin","date":"20 April 2023","format":false,"excerpt":"Good morning, friends, and happy (almost) last day of Ramadan. We hope you have a wonderful Eid Fitr with your loved ones and get a chance to relax and kick back as pretty much the whole country is out until Wednesday, 26 April. This is the last time you\u2019ll see\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/752.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626463,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/03\/imf-praises-subsidy-reforms-calls-for-more-monetary-tightening-in-third-review\/","url_meta":{"origin":614919,"position":4},"title":"IMF praises subsidy reforms, calls for more monetary tightening in third review","author":"enterpriseam admin","date":"3 July 2018","format":false,"excerpt":"IMF praises subsidy reforms, calls for more monetary tightening in third review: Egypt has passed the IMF\u2019s third review of the economic reform agenda with flying colors. The institution singled out recent fuel subsidy cuts for particular praise: \u201cThe continued fuel subsidy reform contributes to reducing the budget deficit and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594036,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/17\/what-were-tracking-on-17-october\/","url_meta":{"origin":614919,"position":5},"title":"What we\u2019re tracking on 17 October","author":"enterpriseam admin","date":"17 October 2019","format":false,"excerpt":"The IMF and World Bank annual meetings continue through the weekend in Washington, DC. Prime Minister Moustafa Madbouly, Investment Minister Sahar Nasr, and Oil Minister Tarek El Molla are in the US capital to attend the meetings. The Egyptian delegation had a busy day yesterday with several sit-downs with international\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=614919"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614919\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/weekend\/614917"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/614920"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=614919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=614919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=614919"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=614919"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=614919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}