Patrick Werr

1 week ago | zawya.com | Patrick Werr

CAIRO - Egypt's non-oil private sector economy contracted further in April after a decline in domestic and foreign demand caused new orders and output to fall for a second month, according to a survey released on Tuesday. The S&P Global Egypt PMI headline index dropped to 48.5 in April from 49.2 in March, marking the lowest reading so far in 2025. A figure below 50 indicates contraction and one above 50 indicates growth.

1 week ago | zawya.com | Patrick Werr

CAIRO: The International Monetary Fund will begin the fifth review of Egypt's $8 billion economic reform programme, with a team scheduled to arrive in Cairo this week, the IMF said in a statement on Monday. The IMF board approved the fourth review on March 11, unlocking a disbursement of $1.2 billion in a 46-month IMF loan programme first approved in 2022 and later expanded following the outbreak of fighting in Gaza.

1 week ago | zawya.com | Patrick Werr

Egyptian microfinance lending and payments company MNT-Halan sold 2.5 billion Egyptian pounds ($49.4 million) in corporate bonds to finance further growth of its Egyptian loan book, it said in a statement on Monday. The bonds were sold to institutional lenders, the company added. MNT-Halan, Egypt's first unicorn, or privately held venture capital company worth more than $1 billion, expanded outside Egypt last year with the purchase of Turkish micro-leasing company Tam Finans.

1 week ago | zawya.com | Patrick Werr

Egypt's net foreign assets jumped by $4.9 billion in March, central bank data showed, apparently boosted by the approval of the fourth review of the country's IMF programme. Net foreign assets climbed to the equivalent of $15.08 billion from $10.18 billion at the end of February, according to Reuters calculations based on official central bank currency exchange rates.

3 weeks ago | uk.marketscreener.com | Patrick Werr

CAIRO (Reuters) - Economists have trimmed forecasts for Egyptian economic growth this year and next, in part due to tariffs imposed by the United States and expectations of slower global growth, a Reuters poll showed on Wednesday. The median forecast in the April 9-23 poll of 17 economists was for gross domestic product (GDP) to grow 3.8% in the current fiscal year that ends on June 30, down from 4.0% predicted in a similar poll in January.