Economy

Coronavirus lockdown abroad forces Egypt’s potato farmers to abandon their crops

Coronavirus lockdown abroad forces Egypt’s potato farmers to abandon their crops

Wholesale prices for potatoes have decreased sharply over the past week, driving Egyptian farmers to abandon their own crops due…
Egypt signs agreements with USTDA to upgrade major refineries

Egypt signs agreements with USTDA to upgrade major refineries

Egypt’s Ministry of Petroleum and Mineral Resources signed two grant agreements with the US Trade and Development Agency on Thursday…
Sisi approves $500 mn housing loan agreement with IBRD

Sisi approves $500 mn housing loan agreement with IBRD

Egypt’s President Abdel Fattah al-Sisi issued a decreeon Wednesday approving a US$500 million loan agreement between Egypt and the International…
Amid Brexit, Egypt, Britain sign free trade agreement

Amid Brexit, Egypt, Britain sign free trade agreement

Egypt and Britain signed an agreement establishing a trade partnership between the two countries, which will go into effect on…
Hundreds of workers go on strike in Daqahlia to protest selling of factory

Hundreds of workers go on strike in Daqahlia to protest selling of factory

Hundreds of workers at the Delta Company for Fertilizers and Chemical Industries (Talkha Fertilizer), a state-owned company in Egypt, staged…
Egypt plans first factory to locally manufacture trains by beginning of 2021

Egypt plans first factory to locally manufacture trains by beginning of 2021

Egyptian Transport Ministry plans to start establishing the country’s first factory to locally manufacture trains of all kinds starting from…
Egypt expects US$1.6 billion IMF loan by the end of December: Minister

Egypt expects US$1.6 billion IMF loan by the end of December: Minister

Egypt’s Finance Minister Mohamed Maait announced Monday that a US$1.6 billion tranche from the International Monetary Fund (IMF) is anticipated…
Germany approves 80 million euro grant to Egypt

Germany approves 80 million euro grant to Egypt

The German parliament has approved providing Egypt the third tranche for the second phase of the Egyptian-German debt swap program…
Egypt’s chemical and fertilizer exports decline to US$4.15 billion over 10 months

Egypt’s chemical and fertilizer exports decline to US$4.15 billion over 10 months

Egypt’s exports of chemicals and fertilizers decreased by 4.8 percent during the first ten months of 2020, reaching $4.153 billion…
Tax revenues represent over 80 percent of Egypt’s state budget in Egypt: Official

Tax revenues represent over 80 percent of Egypt’s state budget in Egypt: Official

The Egyptian Tax Authority’s (ETA) revenues represent more than 80 percent of the state’s general budget, said an official within…
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