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FINANCIAL NEWS
Egypt’s economy to increase by 3.5 percent
19 Apr 2016
(MENAFN) Egypt’s economy will grow by 3.5 percent through 2016 and 2017, largely missing the government’s target of 5.2 percent and dipping below last year’s growth rate.
Additionally, the economy increased by almost 4.2 percent among 2014/15 financial year, while its economy runs from July through June.
However, this year will be tough for the country due to the short-term pain caused by the devaluation of the pound and issues in the tourism sector.
On the other hand, the country raised interest rates by 150 basis points to avoid fueling price rises after devaluing the currency by 12 percent.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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