Economy

Visa finds positive correlation between e-payments and economic growth

Visa finds positive correlation between e-payments and economic growth

Electronic payments in Egypt are on an uptrend, and according to a recent study, this contributes directly to overall economic…
Bankers debate financing Egypt’s widening budget deficit

Bankers debate financing Egypt’s widening budget deficit

Egypt’s budget deficit reached about LE146.5 billion in the first eight months of fiscal year 2012/13, equaling 8.2 percent of…
Egypt crisis threatens food for poorest: World Food Programme

Egypt crisis threatens food for poorest: World Food Programme

The nation's economic crisis poses a threat to basic nutrition for its population of 84 million people, as the poorest…
Rushed customs tariffs hike may be ‘too little, too late’

Rushed customs tariffs hike may be ‘too little, too late’

President Mohamed Morsy issued a decree in late March that increased custom duties on 100 luxury products, an unsurprising move…
Scrapped capital gains tax another sign of slapdash economic policies

Scrapped capital gains tax another sign of slapdash economic policies

An abrupt implementation of a 10 percent capital gains tax on shareholders and investment funds that profited from the takeover…
Lawsuit against hiked butane gas prices claims miscalculation in subsidy bill

Lawsuit against hiked butane gas prices claims miscalculation in subsidy bill

A lawsuit filed against Egypt’s president and prime minister for raising the price of butane gas cylinders last week, claims…
Sukuk law in state of flux until Al-Azhar review

Sukuk law in state of flux until Al-Azhar review

The Shura Council approved in late March a law allowing the issuance of sukuk, or Islamic bonds, which the heavily…
New taxes in Egypt’s latest economic program will do little to spur recovery

New taxes in Egypt’s latest economic program will do little to spur recovery

It’s easy to lose track of how many economic plans the government has presented since President Mohamed Morsy’s election, the…
Rise in factory closures reflects Egypt’s compound economic malaises

Rise in factory closures reflects Egypt’s compound economic malaises

Time and time again, officials have accused ongoing protests, workers’ strikes and labor action of halting the so-called wheel of…
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