Patrick Werr

Cairo

Journalist at Reuters

Columnist at Freelance

Economics and finance journalist based in Egypt for 33 years, writing on the Egyptian economy for Reuters.

Featured in: Favicon

reuters.com (+1) Favicon

msn.com

dailymail.co.uk Favicon

mirror.co.uk Favicon

yahoo.com (+14) Favicon

smh.com.au Favicon

usnews.com Favicon

infobae.com Favicon

globalnews.ca Favicon

ibtimes.com + 92 more

Articles

Egypt's non-oil private sector contraction slows in May, PMI shows

3 days ago | zawya.com | Patrick Werr

CAIRO - Activity in Egypt's non-oil private sector edged closer to stability in May, with softer contractions in new business and output, according to an S&P Global survey released on Tuesday. The headline seasonally adjusted S&P Global Egypt Purchasing Managers' Index (PMI) rose to 49.5 from 48.5 in April, remaining below the 50.0 threshold that separates growth from contraction.
Egypt ‘making progress but needs to widen its tax base’

1 week ago | businesslive.co.za | Patrick Werr |Jaidaa Taha

Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers. Tourists stand next to museum exhibits displayed at the Grand Egyptian Museum, set to officially open fully on July 3.
IMF says Egypt making progress, still needs to widen tax base

1 week ago | dailydispatch.co.za | Patrick Werr |Jaidaa Taha

Tourists stand next to museum exhibits displayed at the Grand Egyptian Museum, set to officially open fully on July 3, following a partial opening last year in Giza, on the southwestern outskirts of the capital Cairo, Egypt, on May 23 2025. Egypt has made progress towards macroeconomic stability and has been streamlining tax and customs procedures, but still needs to widen its tax base, the International Monetary Fund (IMF) said on Tuesday after a review mission to the country.
IMF says Egypt making progress, still needs to widen tax base

1 week ago | zawya.com | Patrick Werr |Jaidaa Taha

CAIRO: Egypt has made progress towards macroeconomic stability and has been streamlining tax and customs procedures, but still needs to widen its tax base, the International Monetary Fund said on Tuesday after a review mission to the country. An IMF team visited Egypt from May 6 to May 18 as part of its fifth review of an $8 billion financial support agreement signed in March 2024.
Egypt working to integrate railways into Asia-Europe trade

1 week ago | reuters.com | Patrick Werr

CAIRO, May 25 (Reuters) - Egypt is working to integrate the country into a railway network connecting Asia and Europe, but a long-planned bridge that would link Saudi Arabia to Egypt's Sinai Peninsula has yet to be finalised, transport minister Kamel al-Wazir said on Sunday. Egypt has been expanding its railways along seven separate axes, he said.
Egypt's EFG Holding says Q1 revenue fell 34% after previous FX gain

2 weeks ago | zawya.com | Patrick Werr

CAIRO - Egyptian financial services company EFG Holding's revenue declined by an annualised 34% in the first quarter, due to an exceptional foreign currency gain in the same period of 2024, the company said on Wednesday. Revenue fell to 5.6 billion Egyptian pounds ($112.45 million), while net profit after taxes and minority interests fell 34% to 1.2 billion pounds in the quarter.
Egypt's Central Bank Expected to Cut Rates by 175 bps

2 weeks ago | gurutrade.com | Patrick Werr |Aidan Lewis

CAIRO, May 19 (Reuters) - Egypt's central bank is expected to lower overnight interest rates by a median of 175 basis points on Thursday, extending a reduction begun in April as inflation remains relatively low, a Reuters poll shows. The median forecast of 16 analysts was for the central bank to cut the deposit rate to 23.25% and the lending rate to 24.25%.
Egypt's non-oil private sector contracts further in April, PMI shows

1 month 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.
IMF to begin 5th review of Egypt's economic programme this week

1 month 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.
Egypt's MNT-Halan sells $50mln in local corporate bonds

1 month 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.