Creating new perspectives since 2009
Items by Mamdouh Al-Wali
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The implications of the Emirates’ billions supporting the Egyptian regime
Egyptian Prime Minister Mostafa Madbouly announced an Egyptian-Emirati agreement to establish an urban project in the Ras El-Hikma area, an area of 41,000 acres, according to which Egypt will receive $24 billion in liquidity across two instalments. The first instalment will be $10 billion, the second $14 billion and...
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The people remain hopeful
With the outbreak of the aggression on 7 October, some expected the Arab countries not to support the Resistance movement in Gaza, as was the case during the previous aggressions fought by Gaza against the Zionist State from 2006 until 2021, which were repeated about every two years. However,...
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The Palestinian resistance reveals how idle Arab governments have become
A Saudi citizen went to perform Friday prayers last week and when he found that the preacher failed to address the Gaza issue in his sermon, he went to him to urge him to address the suffering of the people of Gaza. Three security officers approached him and led...
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‘Hot money’ leaves Egyptian debt instruments 10 times in 16 years
In the wake of the Russian invasion of Ukraine, there has been a major exit of foreigners from the instruments of the Egyptian government debt, estimated by unofficial sources to be about $15 billion. This is happening at a time when commercial Egyptian banks are suffering, since last July,...
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Following the invasion of Ukraine, inflation and a shortage of foreign currency has hit Egypt
Egypt’s Food and Agriculture Organisation (FAO) has revealed that the cost of vegetable oil and other basic foodstuffs has increased over the past month, not least because the country’s self-sufficiency in commodities such as corn, meat and cooking oil has been reduced. According to the World Bank, the month...
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Mysterious things are happening within Egyptian banks
When the Ministry of Finance announces that the results of the first five months of the current fiscal year (2021-22) point to a growth in the total budget deficit by 35 per cent compared with the pre-budget assessments, it is only natural that the government will default on payments...
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Huge debt and a shrinking private sector marked Egypt’s economy in 2021
The Egyptian economy slid into a foreign debt trap in 2021, and the country ended up borrowing in order to make repayments and cover the interest on existing loans. It also expanded domestic borrowing through treasury bonds while maintaining high interest rates in a bid to attract foreigners to...
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Exports are Turkey’s means to tackle the sharp currency decline
Exports of commodities and services are the main source of foreign currency in Turkey. Its economy relies on them heavily for a foreign currency balance between supply and demand, and to generate a surplus for the foreign currency reserves as a means of defending the value of the Turkish...
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Official Egyptian statements that expose the economic pains
Egyptian Finance Ministry statements have shown a 38.5 per cent reduction in the budget revenues, in contrast to what has been stated in the budget law for the current year. This has led to a 15 per cent reduction in expenditure. Subsequently, there will be a 52 per cent...
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The Egyptian economy is still in a major crisis
Data released by Egyptian officials, foremost among them those at the Central Bank, have shown a noticeable decline in all foreign currency earnings, including income from tourism, direct and indirect foreign investment, transport services, Suez Canal tolls, oil exports, government revenues and revenues from investment and international aid. Consequently,...