The domestic public debt of Egypt reached EGP 4.1049tn at the end of December 2018, against EGP 3.887tn at the end of September 2018, up by EGP 220bn (5.66%), according to the Central Bank of [ More … ]
Egypt’s annual urban consumer price inflation increased to 12.7 percent in January from 12.0 percent in December, as recorded by the CAPMAS statistics agency, though the data was unlikely to quell speculation the central bank [ More … ]
When the Egyptian government signed an agreement with the International Monetary Fund in November 2016, it committed to the all-too-familiar austerity measures of subsidy cuts and tax hikes, in addition to the flotation of the [ More … ]
A new package of austerity measures was announced by the Egyptian government on November 7, in response to ballooning public debt. The measures included liberalizing the price of bread flour as of January 1, 2019, [ More … ]
An announcement by the Egyptian government that it will not hire any staff for the next five years has sparked anger among civil servants. Government workers said the tactic was a heavy-handed, cost-cutting measure that [ More … ]
An Egyptian politician has called for a referendum on Abdel-Fattah al-Sisi’s government. Maasoum Marzouk, a former diplomat, announced a roadmap this week including the suspension of the constitution and the dissolution of parliament if Egyptians [ More … ]
Egypt’s foreign debt rose to $88.2 billion in the third quarter of the 2017-2018 fiscal year, up from $73.9 billion in the same period the previous year, central bank data showed on Monday. Egypt’s fiscal [ More … ]
Egypt’s al-Sisi is confronting one of the toughest challenges he has faced since seizing power five years ago, as rising prices linked to economic austerity measures take a toll on his core middle-class supporters, according [ More … ]
After years of instability that had nearly brought the North African country to its knees, Abdel Fattah al-Sisi claims that the country is on its right track through his rule years. Two days ago, al-Sisi said [ More … ]
Egyptian civil servants have warned the government that increases in their salaries will not help them avoid the devastating impact of tough new austerity measures. Earlier this month the national Parliament approved a draft law [ More … ]
Hashtag “Sisi Leave” in (Arabic) has been trending in the past few hours in Egypt with people urging Abdel Fattah al-Sisi to resign amid recent austerity measures carried out as part of economic reforms ordered [ More … ]
It seems that al-Sisi’s words during his last speech that Egyptians must all suffer to bring a stronger economy will mark the coming phase. Days after raising electricity bills, Egypt raised gasoline prices by up to 50 [ More … ]
Egyptian police arrested 21 people for taking part in protests against the government’s surprise decision to hike fares on Cairo’s subway as part of austerity measures meant to restore the economy, officials said on Saturday. [ More … ]
Egypt’s Kafr el-Sheikh Governor asked workers to donate one day off from their monthly payroll for “Tahya Masr” government Fund . On phone interview with CBC (pro-government)channel, Major General Nasr Nasr, governor of Kafr El-Sheikh, said [ More … ]
A post on Al-Sisi’s official Facebook page has provoked mockery of social media activists Al-Sisi’s Facebook page posted, “The public debt hiked from 700 billion to 3.4 trillion Egyptian pounds,”with hashtags (in Arabic)#Ask_thePresident and #BeCreative. The [ More … ]
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