17 Jan 2013
(MENAFN) The World Bank’s latest report, Global Development Horizons 2013, forecasts Egypt’s economy to expand to 3.8 percent in 2013, reported Qatar News Agency.
The report also expects the country’s gross domestic product (GDP) growth to stand at 4.7 percent next year.
The bank noted that as soon as political tensions recede, cash flows from non-oil economic activities would recover.
The bank stressed that strong proceeds from the country’s tourism sector had not yet returned to their 2010 levels.
It said that the endorsement of an International Monetary Fund (IMF) loan of USD4.8 billion in the current year would facilitate the flow of extra aid from other donors, which would improve Egypt’s foreign exchange reserves.
Furthermore, the intended cut of fuel subsidies, in addition to tax reforms would enhance the financial situation and grant resources to the private sector.
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
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more