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Egypt Gets Massive Injections of Cash, but Outlook is Still Shaky

By Arezki Daoud | LinkedIn | Egypt has many powerful allies, including those in the global financial sector. No one wants to see it collapse, so money is flowing in a-go-go. Despite a dismal economic performance, global rating agencies, which acknowledge that Egypt is...

Egypt’s Demographic Time Bomb

This month of June 2024, the Egyptian population reached the record number 106.4 million people. Egyptians added 126,000 babies in just one month. Dividing this by 30 days, fetches 4,200 babies per day. The Egyptian government does not like this trend because this...

War in Gaza forces former Middle East foes to seek reconciliation

By Mondafrique: The war in Gaza is forcing feuding States in the Middle East and in the Gulf to seek the path of reconciliations. Faced with President Biden’s inability to impose a red line on Israeli Prime Minister Binyamin Netanyahu, the four most influential...

Egypt: One killed, six arrested in gun battle on Egypt-Israel border

A gunfire broke out near Nitzana, Israel, along the border crossing separating Egypt and Israel. The incident, which involved more than a dozen people, resulted in the death of one person. Six people were arrested. The Egyptian authorities insist that the incident was...

JPMorgan de-lists Egypt from its Emerging Market Bond Index (S)

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Egypt: After wishing each other a happy new year, Egyptians see price hikes that will make 2024 not such a happy year

Immediately after “winning” a third term at the end of December 2023, President Abdelfattah Al-Sisi ordered the “progressive” dismantling of the so-called subsidies. Overnight, as the calendar shifted to 2024, the prices of electricity increased by as much as 26%. As you would expect many other products followed immediately, such as the prices for accessing the Internet up 33%, the price of Cairo metro ticket up by 20%. And that’s just the beginning. In the coming weeks and months, check out the prices of food and basic commodities soaring again, as the Egyptian Pound likely to lose more value.

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Six more years: Egypt’s al-Sisi gets “reelected” with “nearly 90%” of the vote as the economy faces freefall

Egypt's President Abdel Fattah al-Sisi has won a third term with 89.6 percent of the vote in the Arab world's most populous nation, the national election authority said Monday. The outcome of the December 10-12 poll was widely expected after the former army chief with...
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Egypt intercepts drone of unknown origin in Sinai as region remains destabilized

@northafricajournal #Egypt downs #drone in #Sinai Peninsula near #Israel ♬ original sound - The North Africa Journal The Egyptian air force shot down a drone off the Sinai Peninsula on Saturday down the coast from the Israeli border, state-linked media reported....
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