economy

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019

Africa’s $824 billion debt burden, loans undermine its economic potential: ADB president

Eurobond debt now accounts for 44 percent of Africa's total debt

World Bank secures $11 billion backing for new financial instruments to boost lending capacity

WBG's leveraging capability enables 6-8x multiplication of hybrid capital and guarantee platform funds over 10 years

Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent

SCZONE inked 14 agreements with major Chinese companies to boost investment

Oil prices drop as Middle East tensions ease, market sentiment shifts to fundamentals and macroeconomics

Brent crude futures declined to $86.62 per barrel, WTI crude futures dropping to $82.51 per barrel

Egypt to ensure foreign currency availability through maintaining flexible exchange rate

This represents a key condition for Egypt's $8 billion loan program signed with the IMF

Steady labor market in the U.S. strengthens overall economy, unemployment claims remain low

Labor market changes could primarily stem from reduced hiring rather than sudden rise in terminations

IMF’s Georgieva urges China to address economic slowdown, enhance productivity

The Managing Director highlighted concerns over the country's property crisis, called for domestic growth strategies

China’s fiscal stimulus shifts focus amid effectiveness concerns: S&P report

Fiscal stimulus in China aims to buy time for the implementation of longer-term policies

Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report

The report predicts an 18.1 percent average annual headline inflation rate

IMF prepared to assist Sri Lanka in talks with bondholders

Sri Lanka government failed to restructure $12 billion debt with bondholders

Saudi Arabia’s minister highlights $3 billion in Spanish real estate investments, announces upcoming development agreement

40 percent of Spain's investments in Saudi Arabia over the past 10 years has been in the real estate sector

South Africa’s inflation dips to 5.3 percent in March, Reserve Bank to maintain 8.25 percent rates

On a month-on-month basis, consumer inflation was 0.8 percent in March, down from 1.0 percent in February

Türkiye announces economic strategy to boost public savings, investments, and reforms

President Erdogan projected that economic growth will reach around 4 percent this year

Riyadh to ‘move ahead significantly’ on $5 billion Pakistan investment plan

Investments to encompass agriculture, mining, information technology, and aviation

Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda

Egypt further plans to sell more state assets, which would reduce the state's role in the economy.

IMF raises global growth forecast to 3.2 percent, lifts outlook for UAE, Saudi Arabia

The 2024 figure represents a 0.1 percentage point increase from the previous World Economic Outlook report in January

U.S. dollar surges to 5-month high as retail sales beat expectations

U.S. retail sales data released on Monday showed a 0.7 percent increase last month

U.K. unemployment rate hits 6-month high of 4.2 percent, exceeding expectations

The unemployment rate in the country stood at 3.9 percent in the three months to January

Inflation in Germany eases to 2.2 percent in March, lowest since June 2021

The consumer prices increased by 2.7 percent year-on-year in February 2023

Japanese yen plunges to 34-year low amid dovish BoJ outlook

The yen weanked past the 154 range vs dollar

Inflation in France slows to lowest point since 2021, records 3.2 percent in March

Driven by lower growth in the prices of food, services, tobacco, energy, and manufactured products

Portugal’s government forecasts 1.5 percent economic growth for 2024

The country’s economic growth estimates align with the state budget, slightly lower than election promises