Inflation is declining, while the country cuts subsidies in a bid to battle a budget deficit.
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Egypt announced a 15% in petrol prices ahead of an IMF meeting to review the payout package. Egypt suffers with inflation and devaluations of the currency. Attacks around the Red Sea hit revenues from the Suez Canal.
This is part of the previously approved program size of USD 1.2 billion to help the country face medium-term balance of payments problems.
The financing is designed to help Egypt address short-term challenges such as spurring private sector growth and creating a greener growth trajectory.
According to the IMF, recovery was supported by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
Three protocols of intent were signed during a trip of Brazilian vice president Geraldo Alckmin to Saudi Arabia. Delegation features ministers, high-ranking officials, and business representatives.
After a visit to the country and discussions with Kuwaiti authorities, the International Monetary Fund says the economy is projected to contract by 1.4% in 2024.
The International Monetary Fund (IMF) said that notwithstanding the pickup in growth, continued efforts to address water scarcity and enhance governance are essential to bolster Morocco’s growth.
National economic growth should reach 2.7% in the second quarter of 2024, in annual variation, according to the High Commission for Planning (HCP).
The flowers are grown in the Taif province. Rose farms are primarily located in the Sarawat Mountains and yield around 550 million yearly.
As Muslim population and economy grow, the market focused on them thrives and drives up halal certification, experts pointed out in workshop in Dubai.
Abdalla Shaheen took up the post as consul-general from the United Arab Emirates to São Paulo late last year. The diplomat visited the Arab Brazilian Chamber on Tuesday (24).
Egypt has announced the disbursement of USD 5 billion loans to industry and agriculture at an interest rate of 11%, down from 18%, with the state bearing the difference.
The Egyptian government is entering a new phase of rationalizing expenses, postponing new projects budgeted in dollars, and spending solely on essential needs.
