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These projects have positive repercussions on improving financial inclusion and enhancing financial, economic, and social stability. SMEs account for more than 95% of total enterprises in the vast majority of the world and contributing 33% to the GDP of developing economies.
Egypt embarked on a bold economic reform programme that included the pound flotation, a reduction in fuel and electricity subsidies, imposing taxes including the value-added tax (VAT), all with the aim of trimming the budget deficit.
High interest rates hinder attracting more FDIs, says GAFI’s former CEO
CBE’s decision to reduce interest rates reflects favourable inflationary trends, says Lall
President Al-Sisi affirmed his interest in boosting cooperation with international institution to support development in Egypt, Africa
Egypt’s fiscal consolidation to continue, unemployment shrinking, GDP to record 5.5% in 2020: The Economist Intelligence Unit
Monetary easing can help stimulate domestic demand, which in turn benefits other countries by increasing demand for their goods. The concern, however, is that monetary easing also weakens a country’s exchange rate, making exports more competitive and reducing demand for other countries’ imports as they become more expensive—a phenomenon known as expenditure switching
Risks are tilted to downside due to less supportive external environment, says IIF
lender of last resort, the IMF provides countries in economic turmoil with financial support. In return, borrowing countries must often commit to far-reaching policy reforms
Deepening and broadening of Egypt’s effective reforms is critical to underpin the positive outlook for growth and unemployment of the country, David Lipton, the International Monetary Fund (IMF) Acting Managing Director
The IMF’s board approval of fifth review will allow Egypt to receive the last $2bn tranche of its loan.
The ongoing fiscal reforms managed to reduce the budget deficit to 8.2% in FY 2018/19, in continuation to the ongoing down trend from 9.8% in the FY 2017/18 and 12.5% in FY 2015/16.
In our view the AU leaders should also use their meeting to reinvigorate their efforts to create an African Monetary Fund (AMF).
Institutional weaknesses, unfavourable external backdrop may weigh in on growth, inflationary pressure to rise, says the bank
International Monetary Fund chief Christine Lagarde said trade tension was the “major” headwind facing the global economy, telling Japan’s Nikkei daily it was a “significant risk on the horizon.”
Bank foresees inflation averaging 11.1% in FY 2019/20, further interest rate cuts by CBE
Fund calls on improving access to finance, industrial land allocation, competition, transparency, management of state-owned enterprises
During the meeting, Al-Mashat highlighted the importance of the tourism sector for the growth of countries’ economies, explaining that in Egypt the tourism sector contributes to providing job opportunities for more than three million people and represents 20% of the GDP.
Noteworthy, Egypt has been implementing economic reforms as part of a $12bn three-year programme agreed with the International Monetary Fund (IMF) in November 2016, including the cuts to energy subsidies and pound floatation, as well as the introduction of the value-added tax.
The International Monetary Fund’s (IMF) delegation has arrived in Cairo on Monday to conduct the sixth and final review before disbursing the last $2bn tranche of a $12bn extended fund facility. The visit lasts for 10 days, in which the IMF’s delegation will hold meetings with the leaders of the ministry of finance to discuss …
Only 1.7% of country’s public investment are injected in infrastructure, says Lagarde
Pharos Holding For Financial Investments issued a report commenting on the International Monetary Fund’s (IMF) fourth review of Egypt’s economic reform programme, stating that the programme is broadly on right track. All of the June and December 2018 performance criteria and indicative targets were fully met, with the exception of June’s target on public debt. …
‘I am trying to solve the problems and cases raised against me and I hope to return to Egypt,’ says Egypt’s ex-Finance Minister
Egyptian people sacrificed a lot to restore stability, says IMF
Egypt should focus on non-petroleum sectors to attract FDIs, says IMF Director of Middle East
Fund ready to help Egypt in the future, says Beblawi
State increased government investments in national projects by 40% in FY 2019/20
Al-Sisi requests Lagrade’s assistance to promote young people’s entrepreneurship, give them space, freedom to operate to contribute to Egypt’s economic development
Washington, DC- Thousands of delegates and officials have arrived in Washington, DC, for the spring meetings of the International Monetary Fund (IMF) and World Bank, which is taking place from 8 to 14 April. The spring meetings of the boards of governors of the World Bank Group and the IMF bring together central bankers, ministers of …
Washington DC– IMF has helped the countries through their economic difficulties, said Christine Lagarde Managing Director of the International Monetary Fund (IMF) on Wednesday. Lagarde added that after 75 years of cooperation since the IMF was established systems have changed and adapted from exchange rates of currency to the gold standards system in 70th to reform …