Egypt’s Economy Is Near Paralysis

The economy approached paralysis as foreign commerce, tourism and banking all but halted, placing acute pressure on President Hosni Mubarak to find a way out of the chaos.

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BING SEARCH:
  • Egypt Economy, Politics and GDP Growth Summary
    High inflation, tight credit conditions and a move to austerity will constrain economic growth in 2024-25, but the rate should accelerate once the adjustment phase passes. Read more: Egypt taps Chinese capital market with successful Panda bond. Read more: Egypt's president announces a rise in wages and benefits.
    06/13/2024 - 10:21 am | View Website
  • Egypt floats its currency and agrees with the IMF to increase a bailout ...
    CAIRO (AP) — Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation.
    06/13/2024 - 8:12 am | View Website
  • Arab Republic of Egypt
    At a Glance. 2024 Projected Real GDP (% Change) : 3.0. 2024 Projected Consumer Prices (% Change): 32.5. Country Population: 107.785 million. Date of Membership: December 27, 1945. Article IV/Country Report: July 22, 2021. Outstanding Purchases and Loans (SDR): 10654.83 million (March 31, 2024) Special Drawing Rights (SDR): 35.23 million.
    06/13/2024 - 12:13 am | View Website
  • Egypt Overview: Development news, research, data | World Bank
    Overview. Leveraging large-scale investments and financing, Egypt undertook monetary and exchange rate adjustments to address the foreign currency crisis that has been prevailing since 2022. The Central Bank of Egypt (CBE) allowed the Egyptian pound to depreciate vis-à-vis the dollar to address distortions in the foreign exchange market.
    06/12/2024 - 11:15 pm | View Website
  • Egypt Economic Snapshot
    Growth has held up better in Egypt than in neighbouring countries until recently but inflation has reached very high levels and financing conditions have tightened along with foreign currency shortages. In this context, Egypt is stepping up economic reform efforts.
    06/12/2024 - 5:14 am | View Website
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