Day: June 10, 2025

Egypt paid a total of $21.3bn in foreign debt servicing—comprising interest and principal repayments—during the first half (H1) of the 2024/25 fiscal year, according to a recent report from the Central Bank of Egypt (CBE). The payments included $7.95bn in the first quarter (Q1) and $13.35bn in Q2. Of these,…

The World Bank has revised down its forecast for Egypt’s economic growth in 2024, projecting real GDP expansion of just 2.4%, compared to 3.8% in 2023. A moderate recovery is expected in the years ahead, with growth forecast to rise to 3.5% in 2025 and 4.2% in 2026, according to…

Egypt’s total foreign trade reached approximately $64.923bn during the first half (H1) of the fiscal year 2024/25, according to a recent report issued by the Central Bank of Egypt (CBE). Of this total, imports amounted to around $46.212bn, while exports totalled $18.711bn. The CBE noted that trade with Egypt’s 14…

Egypt targets 30 million tourists by 2031 under a new investment plan for its tourism and antiquities sectors. The target was part of a government strategy to increase foreign direct investment, which was reviewed at a meeting on Tuesday chaired by Prime Minister Mostafa Madbouly. “The government is working to…

Egypt has taken a significant step towards energy market liberalisation with the approval of its first private-to-private (P2P) electricity contracts. Under a new pilot scheme, developed with technical support from the European Bank for Reconstruction and Development (EBRD), four renewable energy projects with a combined capacity of 400 MW have…

Minister of Higher Education and Scientific Research, Ayman Ashour, announced that Egypt’s university hospital system has undergone an unprecedented transformation in the 2024/25 fiscal year, driven by the state’s prioritisation of healthcare development and its commitment to improving service quality for citizens. Ashour attributed the sector’s progress to strong political…

Egypt’s Contact Financial Holding has appointed John Saad as its new managing director and chief executive officer, succeeding Said Zater who has become vice-chairperson of the group’s board of directors, the company said on Tuesday. The leadership transition comes as the non-banking financial services provider reported that its total financing…

In April 2025, the Central Bank of Egypt (CBE) released new statistics indicating significant changes in the country’s financial landscape.  Local liquidity (M2) experienced a notable rise, reaching EGP 12.68 trillion (USD 256 billion), up from EGP 12.56 trillion (USD 253 billion) in March.  In a recent meeting, the CBE’s…