Business & Economy Bound

Egypt has raised fuel prices for the second time this year, increasing gasoline, diesel, and CNG rates by up to 13% as part of IMF-backed reforms to reduce subsidies and stabilize public finances. The move, effective October 17, is expected to ripple across transport, food, and manufacturing sectors as inflation remains stubbornly above 11%.

Algeria’s Sonatrach has signed a $5.4 billion production-sharing contract with Saudi Arabia’s Midad Energy North Africa to explore and develop hydrocarbons in the Illizi Sud field, marking one of the country’s largest energy partnerships of 2025.

Algeria’s 2026 draft budget raises government spending above 17.6 trillion dinars, with a significant portion allocated to public salaries, subsidies for basic goods, and infrastructure investments. The plan anticipates 4.1% economic growth.

Tunisian SMEs say a new rule requiring a 20% bank guarantee for service contracts risks shutting them out of the market and harming the country’s business climate, with experts urging the government to revise the measure.