The International Monetary Fund (IMF) said on April 6 that Egypt's total public debt is expected to continue shrinking to nearly 74% of the gross domestic product (GDP) by 2022/23, on the back of the implementation of its economic reform program.
US-based credit rating agency Moody's has announced its forecasts for the Egyptian economy, following the government's approval of the budget for the fiscal year 2020.
The Central Bank of Egypt (CBE) announced on April 3 that the country’s net foreign reserves climbed to USD 44.11 bn at the end of March, up from USD 44.06 bn a month earlier.
The Egyptian housing ministry has confirmed that the World Bank (WB) contributions to the first phase of the state's social housing project and the first phase of the sustainable sanitation program stand at USD 500 mn each.
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 3,744 social housing units are completed in New Qena, while 864 units are under construction.
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has revealed that the initial sorting of applications from citizens for the tenth announcement of units provided through the state's social housing program has been finalized.
The Internal Trade Development Authority (ITDA) has awarded contracts to some Egyptian and foreign investors to develop six logistics and commercial zones in six different governorates, with combined investments worth EGP 30 bn.
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has met with a delegation from the World Bank (WB) and Egyptian real estate developers to discuss new mechanisms to involve the latter in the implementation of social housing projects.
Mortgage Finance Fund's (MFF) board of directors have signed a cooperation protocol with the finance ministry to raise the value of mortgages provided to low-income citizens by an additional EGP 40 bn, bringing the total funding to up to EGP 60 bn.
The first phase of New Alamein’s seven-kilometer corniche is 85% completed, while construction works have already begun on 12,000 housing units in the new city's Latin Quarter.
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