The two ministers spoke on establishing new strategies to attract direct foreign investments (FDIs), leveraging partnerships with international financial institutions such as the World Bank Group
Egypt’s Suez Canal Economic Zone (SCZone) reported a substantial growth in revenues in the previous fiscal year (FY2023/2024), reporting a 36% rise to reach EGP 8.25 billion
Afreximbank has granted around $12.8 billion to Egyptian banks and companies in the past 3 years with $9.5 billion injected into local banks such as Banque Misr and the National Bank of Egypt
The deficit widened mainly due to a drop in Egypt's oil trade balance, which swung from a $1.7 billion surplus to a $5.1 billion deficit, driven by a decline in natural gas production that pushed oil and gas exports down by 61%
Despite Egypt’s recent significant payments to pay off outstanding debts, the country’s growing international reserves display a positive trend in the economy’s recovery
