Egypt's annual core consumer price index (CPI) inflation rose to 14.3% in June 2026, up from 13.8% in May.
The week ended July 9th witnessed a group of viral economic and business news, topped by Egypt's net international reserves rising at the end of June and the International Monetary Fund (IMF) raising the country's GDP growth forecast for fiscal year 2026/2027.
The exchange rate between the USD and EGP went up on Thursday, July 9th, recording EGP 49.65 for buying and EGP 49.75 for selling at Banque Misr and the National Bank of Egypt (NBE).
Banque Misr has led a consortium of four Egyptian banks in extending an additional EGP 4 billion in syndicated financing to Ora Developers Egypt, owned by businessman Naguib Sawiris, bringing the company's total financing under the facility to EGP 9 billion.
Minister of Investment and Foreign Trade Mohamed Farid Saleh discussed with China-based intelligent manufacturing company Jiangsu Changhong the establishment of a factory in Egypt to manufacture automotive equipment and production lines, with an initial investment of around $20 million.
