Economic Situation Archives

Finance Minister says Egypt’s economic situation “reassuring”

Finance Minister Ahmed Kouchouk affirmed Friday 20/9/2024 that Egypt’s economic situation is “reassuring” as reflected in positive budget performance indicators during the past fiscal year. “We are striving to contribute effectively to establishing a “business-friendly” environment that relies on a sufficient degree of trust, clarity, and tax certainty, essential for building investment plans for new …

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Egypt Independent September 21, 2024

Owing to Egypt’s economic situation, several international brands to close stores

The Al Shaya Group, a Kuwaiti retail company, has decided to close some of its stores in Egypt due to the country’s economic situation, characterized by currency depreciation, exchange rate pressures, and high inflation. The group has been operating in Egypt for over 20 years and has a portfolio of over 200 stores. The decision …

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Egypt Independent January 20, 2024