The central bank’s move was influenced by a sharp deceleration in urban inflation, which dropped from 24% in January to 12.8% in February, before slightly increasing to 13.6% in March.
After hitting its lowest rate since last year’s devaluation yesterday, with the EGP reaching 51.4 against the US dollar, the currency slipped further to a record low of EGP 51.53
Overall, Egypt ranked 45th in the Global 50 Brand Value by Country list, with a brand value of $1.483 billion, reflecting an 8% growth.
The report also revealed that net returns for banks operating in the country totaled EGP 915 billion by the end of 2024, up from EGP 582.5 billion the previous year.
This potential purchase is part of Egypt's ongoing efforts to privatize state-owned assets, a program that has faced delays, according to regional media reports.
