Egypt, EU hold an investment conference to help Cairo battle inflation and foreign currency crisis

The March aid package includes both grants and loans over the next three years for the Arab world’s most populous country. Most of the funds — 5 billion euros — are macro-financial assistance to help Egypt shore up its economy, which is hit by a staggering shortage of foreign currency and soaring inflation.

The EU, represented by Executive Vice-President Valdis Dombrovskis, and Egypt will sign a memorandum of understanding for the short-term macro-financial assistance of up to €1 billion to support Egypt’s economic reform program, the EU mission in Cairo said. El-Sissi’ government embarked on a massive reform program in 2016 in return for loans from the International Monetary Fund. The reform has centered on floating the local currency, substantial cuts in state subsidies on basic goods, reducing public investment and allowing the private sector to become the engine of growth.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

European stocks slump after European vote, shock French electionEuropean stocks slump after European vote, shock French election
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »

European stocks lose steam after European Central Bank cutEuropean stocks moved lower on Friday, after closing at a record high during the previous session.
출처: NBCNewYork - 🏆 270. / 63 더 많은 것을 읽으십시오 »

European stocks open marginally higher after European Central Bank cutEuropean stocks opened slightly higher on Friday, after closing at a record high during the previous session.
출처: CNBC - 🏆 12. / 72 더 많은 것을 읽으십시오 »

European stocks set for muted open after European Central Bank cutEuropean stocks looked set to open relatively flat on Friday, after closing at a record high during the previous session.
출처: NBCNewYork - 🏆 270. / 63 더 많은 것을 읽으십시오 »