Fitch Solutions has downgraded its projections for Egypt’s real GDP growth for the second time in two months to reach 3% in 2021, down from the 3.2 % that in December 2020

The National Bank of Kuwait (NBK) has recently found that the Egyptian economy’s performance promises hopeful prospects, as the worst repercussions of the novel COVID-19 crisis wears off.

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has decided on November 15 to cut the overnight deposit rate, overnight lending rate, and the rate of the main operation by 0.5% (50 bps) to reach 8.25%, 9.25%, and 8.75%, respectively Ahram-Online reports.