Egypt’s economy is projected to grow by 4.0% by June 2025 as it begins to recover from austerity measures linked to an International Monetary Fund (IMF) program, according to a recent Reuters survey of economists. The poll, conducted from October 9 to 23, anticipates GDP growth will accelerate to 4.7% in the fiscal year 2025/26 and rise further to 5.3% by 2026/27. In the current fiscal year 2023/24, GDP growth is expected to fall to 2.4%, down from 3.8% the previous year. Key challenges include a currency crisis and ongoing conflict in neighboring Gaza, which have negatively impacted tourism and Suez Canal revenues. Earlier this year, Egypt secured a major agreement with the UAE’s ADQ sovereign fund for $24 billion in development rights for real estate along its Mediterranean coast. This deal facilitated an $8 billion financial reform package with the IMF in March. James Swanston from Capital Economics noted that while Egypt’s economic outlook is gradually improving, strict fiscal policies will remain essential to address the budget deficit and the debt-to-GDP ratio. He highlighted that the benefits of a weaker pound are beginning to materialize. Although inflation is slowing, it is expected to remain high, with forecasts of 20.4% for 2024/25 and 11.4% for 2025/26. Inflation slightly rose to 26.4% in September, down from a peak of 38.0% in 2023. The IMF also estimates a 4.1% growth rate for Egypt’s economy in 2025. Analysts predict further depreciation of the Egyptian pound, forecasting it to reach about 50.4 per dollar by the end of June 2025 and 52.0 by June 2026. The central bank previously maintained the pound’s value at 30.85 to the dollar until it was allowed to float in March 2024; the current exchange rate is around 48.8 to the dollar. Additionally, analysts expect the central bank’s overnight lending rate to decrease to 22.25% by June 2025 and further to 14.25% by June 2026, providing much-needed support for households and businesses in the coming years.

Egypt hosted a meeting with Hamas leaders in Cairo, aiming to revive stalled ceasefire talks between Israel and Hamas with mediators from Egypt and Qatar.

Egyptian President Abdel Fattah al-Sisi and Iranian President Pezeshkian discuss regional developments amid escalating tensions at the BRICS summit.

Putin and al-Sisi met during the BRICS Summit to discuss strengthening economic ties and advancing joint projects, including Egypt’s first nuclear power plant.

Egypt’s sovereign dollar bonds declined after Saudi Crown Prince Mohammed bin Salman’s visit failed to materialize into concrete investment commitments.

Egypt has successfully eliminated malaria, a disease that has plagued the country for centuries.

Abdel Fattah al-Sisi urges action for peace in Gaza and Lebanon with calls for cease-fire and hostage exchange efforts.

Egypt’s fuel prices have risen again, adding to the financial strain on Egyptians already grappling with high inflation and economic challenges.

Iran’s top diplomat and Egypt’s president met in Cairo to discuss preventing the escalation of regional conflicts and intensifying efforts for ceasefires in Gaza and Lebanon.

 Iranian Foreign Minister Abbas Araghchi arrived in Cairo late Wednesday, according to an announcement from Foreign Ministry spokesperson Esmail Baghaei on X. His visit comes amid heightened anticipation of an Israeli strike on Iran following a retaliatory missile attack by Tehran against Israel earlier this month. Baghaei shared a picture of Araghchi’s arrival in Cairo, saying, “We just arrived in Cairo. Iran and Egypt are significant countries with rich histories and civilizations, and they are influential players in the region.” He added that “important discussions will take place on Thursday with senior officials in Egypt.” The official Iranian news agency, IRNA, reported Araghchi’s arrival as part of a regional tour to meet senior Egyptian officials, noting a formal reception. IRNA pointed out that the last visit by a senior Iranian official to Egypt occurred 14 years ago when Hossein Amir-Abdollahian, the late Iranian foreign minister, traveled to the Egyptian capital for the inauguration of President Abdel Fattah al-Sisi. Cairo is the eighth stop on Araghchi’s tour, which began two weeks ago “to coordinate efforts aimed at halting the crimes of the Zionist entity and activating a cease-fire in Gaza and Lebanon,” according to IRNA. The top diplomat’s visit is his first since he assumed his foreign minister’s post two months ago. He arrived from Jordan and is expected to visit Türkiye, following stops in Lebanon, Syria, Saudi Arabia, Qatar, Iraq and Oman. Earlier Wednesday, Egyptian Foreign Minister Badr Abdelatty disclosed in statements that Araghchi’s visit is part of “Egyptian efforts to de-escalate tensions in the region.” Regional tensions have escalated due to Israel’s brutal offensive on the Gaza Strip, which has killed more than 42,400 people, mostly women and children, following a Hamas attack last year. The conflict has spread to Lebanon, with Israel launching deadly strikes across the country, which have killed more than 1,500 people and injured over 4,500 others since last month.

Egypt’s Foreign Minister Badr Abdelatty and his Spanish counterpart José Manuel Albares Bueno renewed calls for cease-fires in Gaza and Lebanon during a meeting in Cairo on Wednesday, October 16. Abdelatty emphasized that true security and peace cannot be achieved without addressing the legitimate rights of the Palestinian people, stating, “There is no security or stability in this region without the establishment of a Palestinian state.” Albares echoed the sentiment, advocating for an “immediate permanent cease-fire in Gaza and a truce in Lebanon,” stressing that Spain, along with Egypt and other international partners, has consistently called for these measures since the outbreak of violence. Spain is one of three European countries to have recognized Palestine as a state and has recently urged the EU to reconsider its trade relations with Israel. Prime Minister Pedro Sanchez also called for an end to arms exports to Israel.

His tour also includes meetings in Jordan, Lebanon, and other countries amid rising regional tensions.

Egyptian President Abdel Fattah al-Sisi and Saudi Crown Prince Mohammed bin Salman on Tuesday called for “steps towards de-escalation” and a cease-fire in Gaza and Lebanon. During a meeting, the two leaders emphasized that “the establishment of a sovereign Palestinian state, in accordance with international legitimacy resolutions, is the only path to achieving sustainable ceasefire, peace, and security in the region,” said the Egyptian Presidency in a statement. Al-Sisi and bin Salman called for “steps towards de-escalation, including a ceasefire in the Gaza Strip and Lebanon, as well as addressing the worsening humanitarian conditions, and halting policies that push the region to the brink of further conflict.” “Attempts to liquidate the Palestinian cause would lead to the continuation of conflict in the region,” they pointed out. The two leaders also discussed several regional issues, with a focus on the security of the Red Sea region, as well as the situations in Sudan, Libya, and Syria. They agreed to form an Egyptian-Saudi Supreme Coordination Council and signed an agreement to encourage and protect mutual investments between the two countries, according to the statement. Earlier, Egyptian President Abdel Fattah al-Sisi welcomed Saudi Crown Prince Mohammed bin Salman on Tuesday upon arrival at Cairo airport. On Sept. 16, bin Salman met with Egyptian Prime Minister Mostafa Madbouly in Riyadh to discuss enhancing cooperation between the two countries. In June 2022, during a visit to Egypt, bin Salman held talks with Sisi during which they affirmed their shared stance and common destiny, culminating in the signing of 14 investment agreements. In November 2023, the Egyptian president and the Saudi crown prince met in Riyadh and called on the international community to intervene to halt Israeli military escalation in the Gaza Strip.

The Grand Egyptian Museum has opened 12 halls showcasing ancient Egyptian artifacts in a trial run ahead of its official opening.

Saudi crown prince Mohammed bin Salman and Egyptian president Abdelfattah al-Sisi met in Cairo, calling for regional de-escalation and announcing a $5 billion Saudi investment in Egypt.

The crash occurred on a highway in the Suez governorate, and investigations are underway to determine the cause.

 Egypt on Wednesday denied claims by Mohamed Hamdan Dagalo, the leader of Sudan’s Rapid Support Forces (RSF), of its involvement in his country’s ongoing conflict. The Egyptian Foreign Ministry said in a statement that the accusations come at a time when Egypt is making considerable efforts to stop the war, protect civilians and strengthen international response efforts for humanitarian relief to those affected by the conflict. The ministry called on the international community to examine the evidence which would verify the validity of the claims made by Dagalo. Egypt also reaffirmed its commitment to the security, stability and unity of Sudan. The statement added that Egypt will continue to spare no effort in providing all forms of support to its Sudanese “brothers” as they face the severe consequences of the ongoing war. Since mid-April 2023, the Sudanese Armed Forces and the RSF have been engaged in a conflict that has resulted in more than 20,000 deaths and displaced nearly 10 million people, according to the United Nations. There has been a growing call from the UN and international bodies to end the conflict, as the war has pushed millions of Sudanese to the brink of famine and death due to food shortages, with the fighting spreading to 13 of Sudan’s 18 states.

US Secretary of State Blinken emphasizes need for implementing UN Resolution 1701 in latest call with Egypt.

The Egyptian army sent a plane loaded with medical aid to Lebanon amid ongoing Israeli attacks, following orders from President Abdel Fattah el-Sisi to provide support.

Egypt’s government is seeking to reduce its reliance on wheat imports by introducing corn and sorghum flour into bread production.

Egyptian President al-Sisi reaffirms Egypt’s support for Lebanon’s sovereignty and stability amid regional challenges and tensions.

Despite global pressure, Egyptian authorities refuse to release prominent activist Abd el-Fattah, prompting international outrage and calls for an end to Egypt’s repressive regime.

EgyptAir has suspended flights to Beirut, and the international community has expressed concern over the potential for the conflict to spread regionally.

The Pentagon has greenlit a $740 million sale of Stinger missiles to Egypt, a decision that will significantly enhance the country’s ability to defend against aerial threats.