deficit

Fitch Ratings raises Egypt’s financial outlook to ‘positive’
Business

Fitch Ratings raises Egypt’s financial outlook to ‘positive’

Fitch Ratings Inc., one of the three biggest credit rating agencies in the world, raised Egypt’s long-term Foreign-Currency Issuer Default…
Third IMF loan installment will bridge funding gap: CBE source
Economy

Third IMF loan installment will bridge funding gap: CBE source

The third tranche of the International Monetary Fund (IMF) loan worth $2 billion will be used to support the state…
UK slashes economic growth forecasts for next five years, higher deficit
World

UK slashes economic growth forecasts for next five years, higher deficit

Britain has cut its official forecasts for economic growth, finance minister Philip Hammond said on Wednesday as he delivered a…
CBE reports net outflow in Egypt’s travel balance
Business

CBE reports net outflow in Egypt’s travel balance

Egypt's travel payments rose from US$3.3 billion to $4.1 billion in the fiscal year 2015/2016, creating a net outflow in…
UPDATE: Egypt’s current account hits deficit of $2.9 bln in Oct-Dec quarter
Business

UPDATE: Egypt’s current account hits deficit of $2.9 bln in Oct-Dec quarter

Egypt's current account deficit widened to $2.9 billion in the three months to December from $1.4 billion in the same…
EFG Hermes predicts a US$6-8 bn funding gap in 2015-2017
Business

EFG Hermes predicts a US$6-8 bn funding gap in 2015-2017

One of the leading investment banks in the Arab World has predicted Egypt’s funding gap to hover between US$6-8 billion…
Uptated: Egypt current account hits deficit of $1.4 bln in July-Sept quarter
Egypt

Uptated: Egypt current account hits deficit of $1.4 bln in July-Sept quarter

 Egypt's current account recorded a $1.4 billion deficit in the three months to September, in contrast to a $610 million…
Ministry: Egypt’s budget deficit widens in 1st quarter of 2014/15
Business

Ministry: Egypt’s budget deficit widens in 1st quarter of 2014/15

Egypt’s overall budget deficit widened to LE65.8 billion in the first quarter of fiscal year 2014/15 from LE59.9 billion a…
IMF team to resume talks in Egypt next week
Business

IMF team to resume talks in Egypt next week

An International Monetary Fund team will arrive in Cairo next week to resume discussions on a US$4.8 billion loan that…
FECC: Fuel shortage at least 40%
Egypt

FECC: Fuel shortage at least 40%

    Egypt is suffering between a 40 and 75 percent fuel shortage, while the shortage for Liquid Petroleum Gas…
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