The Monetary Policy Committee of the Central Bank of Egypt (CBE) cut the overnight deposit rate and the overnight lending rate at 15.75 percent and 16.75 percent, respectively, during 2019’s first meeting. Egypt which targets to hit average interest...اقرأ المزيد
Remittances from Egyptian expatriates hiked 3.1 percent or $778.2 million during 2018, reaching $25.5 billion, compared to $24.7 billion in 2017, the Central Bank of Egypt (CBE) said. During the first 11 months of 2018, remittances of expatriates hit...اقرأ المزيد
The House of Representatives will discuss in its general assembly on Sunday the law drafted by the government on reconciliation with individuals who committed illegal construction. In December 2017, the government had finished drafting the law before...اقرأ المزيد
Egypt achieved an overall surplus of $284.1 million in its balance of payments (BOP) during July to September of fiscal year 2018/2019, according to the Central Bank of Egypt (CBE). CBE attributed the surplus to the current account deficit which stabilized...اقرأ المزيد
Egypt’s foreign reserves dropped by $1.96 billion by the end of December 2018 to reach $42.551 billion, compared to $44.513 billion by the end of November 2018, according to the Central Bank of Egypt (CBE). Deputy Governor of CBE for the Monetary Reserve...اقرأ المزيد
The Monetary Policy Committee of the Central Bank of Egypt (CBE) kept the overnight deposit rate and the overnight lending rate at 16.75 percent and 17.75 percent, respectively, during December’s meeting for the sixth time this year. During the meetings...اقرأ المزيد
Egypt’s foreign reserves increased by $12 million by the end of November 2018 to reach $44.513 billion, compared to $44.501 billion by the end of October 2018, according to the Central Bank of Egypt (CBE). Minister of Finance Mohamed Ma’it said previously...اقرأ المزيد
Minister of Finance Mohamed Ma’it said that the changes of the exchange rate and other economic factors affected some aspects of the Egyptian economy negatively, so the Ministry had to take actions to protect the employment and job opportunities. The...اقرأ المزيد
Total deposits at the banking system, excluding the Central Bank, increased by LE 38 billion, to reach LE 3.64 trillion by the end of September, compared to LE 3.61 trillion by the end of August, according to the Central bank of Egypt. CBE said that...اقرأ المزيد
The Monetary Policy Committee of the Central Bank of Egypt (CBE) is expected to keep interest levels at its levels during November’s meeting. This comes amid high rise of inflation rates during October, the continuity of events in emerging markets,...اقرأ المزيد
