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A solution for Egypt’s fuel crisis?

The recurring petrol and diesel crises have left Egypt’s streets paralysed and the people angry. Despite the continuity of the diesel crisis throughout the past months, the petrol crisis is primarily affecting Egyptians from middle and upper classes, a phenomenon unprecedented on the current scale. The government has promised the crisis will end once the new smartcard system is in effect. The Daily News Egypt reviews the new system and asks people about the system’s feasibility and convenience to their needs.

Sarah El Masry

CBE reports EGP 11.3billion balance of payment deficit

The Central Bank of Egypt (CBE) announced Monday that Egypt’s balance of payment totalled USD eight billion during the 2011/2012 fiscal year, compared to a surplus of $571.2 million in the previous fiscal year. The decline was attributed to reduced tourism profits and the current political atmosphere in Egypt and the region. CBE reported that …

Islam Serour

Previous fiscal year characterised by rising GDP deficit

The Egypt Economic Performance Report for July-May of the fiscal year 2011-2012 revealed a continued rise in the overall GDP deficit, valued at EGP 136.5 billion or 8.8% of GDP, compared to EGP 112.6 billion for the same period last year. The former has dropped by 2.9%, as opposed to the latter, which dropped by …

Daily News Egypt

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