29 February   Even with the Ras El Hikma investment, Egypt still needs the support of the international Monetary Fund (IMF) or risk going back to square one on the path of economic reforms, Capital Economics said in an analysis report.

29 February   Prime Minister Mostafa Madbouly confirmed that Egypt received $5 billion from the first installment of the investment partnership deal with the United Arab Emirates to develop Ras El Hikma with another $5 billion expected to arrive on Friday.

29 February   Starting from the first of March 2024, Egyptian companies engaged in the production of key food commodities will implement a new measure by clearly indicating the final selling prices on their products, according to sources cited by Asharq Bloomberg.

28 February   China has expressed its interest in establishing a new industrial zone on the Mediterranean Sea in a bid to cater to the local market and tap into European and American markets. The proposal was discussed during a meeting between the Egyptian Minister of Trade and Industry, Ahmed Samir, and his Chinese counterpart, Wang Wentao.

Feb 28   Egypt has signed seven memoranda of understanding with international developers in the fields of green hydrogen and renewable energy in the Suez Canal Economic Zone that could lead to total investment worth around $40 billion over 10 years, a cabinet statement said.

Feb 27   The International Monetary Fund has resolved key issues with Egyptian authorities in a review of its $3 billion loan program and should finalize an augmented financing package within weeks, IMF Managing Director Kristalina Georgieva told Reuters on Tuesday.

27 February 2024   A report issued by the Ministry of Planning and Economic Development said that the economic growth rate targeted by the plan for the fiscal year 2023/2024 is about 4.1 percent, while the plan targets 11.84 trillion pounds of gross domestic product, achieving 15.2% as an investment rate, and 1.65 trillion pounds in total investment volume.

26 February 2024   In a significant move to enhance financial discipline and optimize the utilization of Egypt's resources, the Minister of Finance, Mohamed Maait, has issued the executive regulations of the Unified General Finance Law which strictly prohibit the establishment of any private funds or accounts unless authorized by a law issued by the House of Representatives, based on a request and presentation from the government.

Feb 24, 2024   The United Arab Emirates is to inject $35 billion in foreign direct investment into Egypt over the next two months, Egyptian Prime Minister Mostafa Madbouly told a news conference recently. 

Feb 23   Egypt said on Friday it had signed a deal with the United Arab Emirates to develop a prime stretch of its Mediterranean coast that would bring $35 billion of investments to the indebted country over the next two months.

January 31    The Central Bank of Egypt (CBE) has instructed banks to set a maximum daily withdrawal limit for a single client's account or all their accounts at LE 150,000. Any requests from customers looking to withdraw amounts exceeding the LE 150,000 limit must be reported to the CBE twice a day (at 12 PM and 3 PM) for approval. 

January 30    The International Monetary Fund (IMF) lowered its expectations for the growth of the Egyptian economy during the current fiscal year 2023-2024 by 0.6 percent, to 3%.

January 11    Egypt's tourism sector in 2023 witnessed a series of achievements, with a total of 14.906 million tourists visiting the country, the Minister of Tourism and Antiquities, Ahmed Issa, announced.

January 10    Egypt’s annual core inflation rate recorded 34.2 percent in December 2023, compared to 35.9 percent in November 2023, according to the Central Bank of Egypt (CBE).

January 4    In December 2023, the CBE recorded its NIR at $35.219 billion, compared to $35.173 billion at the end of November.