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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
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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