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Encouraging signs for Egypt’s economy

By Oxford Business Group After years of uncertainty and turbulence, Egypt’s economy is beginning to show some signs of recovery, with a marked rise in business confidence helping to strengthen indicators in both capital markets and the broader economy. Emerging signs of growth are welcome not only for investors, but also for the government, following …

Daily News Egypt

Egypt energy subsidy bill to rise by 10-12% next year: Minister

Reuters – Egypt’s Finance Minister said on Sunday spending on energy subsidies next year will be 10-12% above the EGP 130bn ($18.66bn) budgeted for the current fiscal year, unless immediate reforms are made. Successive governments have stressed the importance of reducing energy subsidies, which account for more than 20% of state spending, but none have …

Daily News Egypt

Revolving Doors: Egypt deputy finance minister quits

By Farah Halime, Rebel Economy Egypt’s deputy finance minister, Hany Kadry Dimian, has left his post after six years in the ministry, a source at the finance ministry told Rebel Economy, delivering a blow to the country’s chances of concluding a loan agreement with the International Monetary Fund. Mr Dimian, who has served as the deputy …

Daily News Egypt