{"id":641761,"date":"2024-09-02T00:00:00","date_gmt":"2024-09-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/"},"modified":"2024-09-02T00:00:00","modified_gmt":"2024-09-02T00:00:00","slug":"bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/","title":{"rendered":"Bustling summer evenings are the latest casualty of our economic and energy struggles"},"content":{"rendered":"

Summer evenings were once a respite from the boiling heat and lethargy of Egypt\u2019s<\/strong> midday summer hours<\/strong>, but amid ongoing economic difficulties and crackdowns on nighttime shopping, fun-filled summer nights have become the latest victim of Egypt\u2019s economic crisis, the New York Times<\/a> reports. The paper takes an in-depth look at how businesses are faring as the early closing rules and hard economic times take a chunk out of their bottom lines.<\/p>\n

Early closing times have hit small business hard<\/strong>, with the government instituted a 10pm closing time<\/a> for all non-essential commercial businesses in July slashing footfall. But it\u2019s not just early closing times eating away at small businesses\u2019 bottom lines, writes the outlet, as there are now many consumers who simply cannot afford to keep up their previous consumption habits under the current economic climate.<\/p>\n

ALSO WORTH NOTING FROM THE INT\u2019L PRESS: Continued CBE government lending<\/strong> could end up doing more harm than good<\/strong>, say economists, according to Reuters<\/a>. The newswire takes a look at how an increase in central bank lending to the government in the last fiscal year is expanding the money supply, which in turn could put our current deflationary trajectory at risk and push the EGP to weaken against other currencies.<\/p>\n

By the numbers: <\/strong>Money supply increased by 31.1% y-o-y by the end of the fiscal year 2023-2024, following a 33.4% y-o-y increase in FY 2022-23.<\/p>\n

But its seems we\u2019re now on the right track<\/strong>, as \u201cmoney supply in percent year-on-year terms has slowed from its peak of nearly 50% in February, which may be adding to the momentum of price changes (such as the decline in food inflation) in driving the headline rate of inflation in Egypt down over the course of this year,\u201d Capital Economics\u2019 James Swanston told the newswire. <\/p>\n","protected":false},"excerpt":{"rendered":"

Summer evenings were once a respite from the boiling heat and lethargy of Egypt\u2019s midday summer hours, but amid ongoing economic difficulties and crackdowns on nighttime shopping, fun-filled summer nights have become the latest victim of Egypt\u2019s economic crisis, the New York Times reports. The paper takes an in-depth look at how businesses are faring […]<\/p>\n","protected":false},"author":1,"featured_media":641762,"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":[7233],"tags":[93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-641761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-egypt-in-the-news","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"181f0d58-1b29-47aa-9625-24958d8bdf75","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/83.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bustling summer evenings are the latest casualty of our economic and energy struggles","related_issue":[641742],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.5e43df66-8038-4c4f-a121-ce35aeaa30b5.mp3"},"yoast_head":"\nBustling summer evenings are the latest casualty of our economic and energy struggles - 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\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bustling summer evenings are the latest casualty of our economic and energy struggles\" \/>\n<meta property=\"og:description\" content=\"Summer evenings were once a respite from the boiling heat and lethargy of Egypt\u2019s midday summer hours, but amid ongoing economic difficulties and crackdowns on nighttime shopping, fun-filled summer nights have become the latest victim of Egypt\u2019s economic crisis, the New York Times reports. 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Cabinet spokesperson Nader Saad was on with Ala Mas\u2019ouleety\u2019s Ahmed Moussa to lay out the new rules, which he confirmed will come into force on\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571680,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/20\/egypts-economic-recovery-post-covid-will-likely-be-u-shaped-el-said-says\/","url_meta":{"origin":641761,"position":1},"title":"Egypt\u2019s economic recovery post-covid will likely be U-shaped, El Said says","author":"enterpriseam admin","date":"20 May 2020","format":false,"excerpt":"Egypt\u2019s economic recovery post-covid is most likely to be U-shaped, rather than V- or W-shaped, Planning and Economic Development Minister Hala El Said said during a webinar hosted yesterday by our friends at AmCham. 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Journalist Ibrahim Eissa \u2014 who was last on the airwaves in 2017 before being taken off air for criticizing government officials \u2014 had a sit-down with Finance Minister Mohamed Maait\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/420.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641761","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=641761"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641761\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/641742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/641762"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=641761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=641761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=641761"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=641761"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=641761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}