IMF denied that Egypt had applied for a new loan to face the repercussions of the Russian-Ukrainian war and high inflation

Prime Minister granted incentives for investment activities related to the green economy, artificial intelligence, innovation support; Focus is on projects in the electricity and renewable energy sector, the education, and sports sectors

Trade deficit declined in December 2021 by 21.6% YoY, to record USD2.41 billion

The government sees the FY2021-22 budget deficit target widening to 6.9% from 6.7%

Government to fix price and specifications of unsubsidized Baladi bread

The Fed will end its meeting to review interest rates today and is expected to kick off its tightening cycle with a 25-bps hike

Oil prices declined on fear of lower demand for energy due to the geopolitical tensions that threaten global growth rates (USD100/bbl)

Egypt’s output of natural gas is expected to increase, based on new discoveries in the Mediterranean and the Red Seas

Egypt’s fertilizer exports increased by 61% in 2021 to register USD2.3 billion, with expectations of stronger growth in 2022 

The government is studying manufacturing an electric "TukTuk," as an alternative to the regular one, by   "Al Nasr Automotive Company" 

EXPA received EGX approval to increase the bank’s paid-in capital by EGP 2.00 billion through a rights issue to reach EGP 5.27 billion

OLFI's BoD set a date for the dividends distribution of EGP0.65/share, with a DY of 10.6%, for 31st of March with an end of right date for 28th of March

Lamar is planning to invest at least EGP500 mn over the coming three years to expand production and strengthen its transport fleet