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The company expects the economy to expand at a more moderate pace of 3.0% in fiscal year 2017, 3.8% for 2018
Inflation to reach 20-25% in FY17, driven by fuel subsidy cuts and increase in VAT rate
Company opens two factories on area of 10,000sqm during H1 2017
With the dramatic rise in prices of imported products, Egyptians turned to their local market for alternatives
CBE raised the interest rate by 3% on 3 November 2016 as prelude to hiking inflation
Having increased the interest rate three times in 2016, the CBE does not plan to raise it further
The annual rate of inflation hiked to 29.6% in January compared to January 2016. The rate had previously stood at an annual inflation rate of 24.3% during December 2016, according to the monthly report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS). The monthly rate recorded an increase of 4.3%, which was …
There are three variables in any economy which need to be reduced: inflation, unemployment, and debt; and three others which must be increased, including investment, growth, and export. There are also some intermediate variables that contribute to achieve those six goals, such as increasing the savings which help boosting investment and fighting poverty through reducing …
Recent CBE reports explain inflation hitting 25% at end of December 2016
The annual Inflation rate hiked to 24.3% in December, compared to 20.2% in November, according to a statement issued by the Central Agency for Public Mobilization and Statistics (CAPMAS). The statement issued on Tuesday attributed the increase of the inflation rate to price hikes in the food and beverage sector, as they registered an increase …
Emirates NBD Egypt PMI continues to signal decline amid steep inflation
Inflation in the 19-member euro area has reached a new high.
German monthly inflation rose more than expected in December, hitting the highest level in more than three years, and positively rounding off a dismal year for central bank efforts to push prices with monetary policy.
I belong to a generation that used to do well with a monthly allowance of EGP 3 in the 1980s during the first years of preparatory school. Once I enrolled in university, this allowance reached EGP 30, and it was enough for us to enjoy life. This generation had not imagined it would witness a …
Inflation rises to 19.4% in November
While experts agree that the government’s decision to increase customs duties on 364 types of imported products will not greatly affect the rate of inflation, their views differ when it comes to the timing and how this move will actually affect the state and its citizens. Abou Bakr Emam, the head of Prime Bank’s research …
While price increases and inflation are inevitable for any country, in recent months Egypt has seen unprecedented price hikes which have severely impacted families’ cost of living. In the wake of the Egyptian pound flotation, subsidy cuts, and higher fuel prices, the average family’s monthly income does not stretch nearly as far as it used …
Analysts expect these rates to remain unchanged for three to six months
The annual inflation rate reached 14% in October
The Central Bank of Egypt (CBE) announced on Thursday that it is floating the Egyptian pound completely, and banks will be free to quote whatever rates they decide on, for cash and transfer transactions. Despite the hardships, investment banks see a bright vision of Egypt’s economy in the near future. According to a statement released …
Inflation in the 19-member eurozone has reached levels not seen for over two years, but is still far too low to satisfy governors at the European Central Bank.
“Just as we should never balance the budget on the backs of the poor, it’s an economic delusion to think you can balance it only on the wallets of the rich.” This seemed to be the beautified confession that the then UK chancellor of the exchequer and austerity guru George Osborne made to the Conservative …
The annual inflation rate in September changed to 14.6%, compared to 16.4% in August
The president has constantly undermined rights and freedoms’ issues; economic and social issues at stake
With this decision, the interest rate on deposit remains at 11.75% and the lending rate at 12.75%
Prime Minister Sherif Ismail and the government have promised a litany of political and legislative reforms that would be implemented in the short term to develop Egypt’s economy and pull it out of its poor state. Debates over the Civil Service Law, the value-added tax, the investment law, as well as the budget deficit, trade …
The consumer price index (CPI) for August registered an increase of 2% compared to July, CAPMAS reported on Thursday.
Reports show one of the highest yields in global wheat production driving export prices down at a time when Egypt is struggling with inflation, reserve shortage, and corruption
Decrease in poultry prices limited the increase in the inflation rate in July, says CAPMAS