News / Government

Egypt Achieves 5.4% Economic Growth in H1 FY 2018/19

Egypt has managed to achieve a real economic growth rate of 5.4% during the first half of the current FY, while targeting reaching 5.6% during the second half of the same year and 5.8% by the end of it.

Gov’t Inaugurates New Sphinx Authority’s Headquarters

Vice President of New Urban Communities Authority (NUCA) Abdulmutallab Mamdouh inaugurated on January 28 the administrative headquarters of New Sphinx Authority, west Cairo.

German Minister for Economic Affairs Visits Egypt to Review Country’s Progress

Germany's Federal Minister for Economic Affairs and Energy Peter Altmaier is visiting Egypt from February 2 to 4, accompanied with an economic and parliamentary delegation, attempting to scrutinize the progress made through the country's economic reforms, while strengthening economic relations between both parties.

ACUD Delegates Visit France, Austria to Market NAC Project

A delegation of the Administrative Capital for Urban Development (ACUD) flew to Austria and France on February 2 to communicate with the Egyptian community abroad, as well as the international media, aiming to introduce them to the New Administrative Capital (NAC) project, east Cairo

OECD Raises Egypt’s Rating as Attractive Destination for Investment

The Organization for Economic Cooperation and Development (OECD) has raised Egypt’s rating on the country risk index from level six to five as an attractive destination for investment.

Planning Ministry Signs 2 Cooperation Procotols for State Employees

Egypt's planning ministry has signed two cooperation protocols with UK-based King's College London and Washington-based American University on raising the efficiency of employees of the state's administrative apparatus in preparation for the transition to the New Administrative Capital (NAC).

Egyptian Expats’ Remittances Up 5.7% in 11 M: CBE

The Central Bank of Egypt (CBE) has announced that remittances from Egyptian expats, one of the country’s main sources of foreign currency, hiked by 5.7% - or USD 1.2 bn - in the first 11 months of 2018 to USD 23.3 bn.

Parliament Preliminary Approves Draft Law on Reconciliation in Building Violations

Egyptian parliament’s General Committee gave preliminary approval for the draft law on reconciliation in building violations on January 25, which is expected to provide the government with about EGP 150 bn when issued.

Sphinx Int’l Airport Witnesses First Run of Domestic Flights

Ministers of Civil Aviation and Tourism witnessed the experimental operation of domestic flights for the first time from Sphinx International Airport, west Cairo, which began on January 25 and set to last until February 9, in a bid to boost the country's tourism.

Housing Committee to Discuss Real Estate Development Bill

The House of Representatives’ Housing Committee will discuss on January 28 a draft law to regulate real estate development and to establish a federation for real estate developers.

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