Egypt

Minister of Tourism and Antiquities Ahmed Issa unveiled a new package of facilities related to issuing tourist visas, according to a statement by the ministry on March 27th.

Egypt’s annual core inflation rate rose to 31.2% in January 2023, compared to 24.4% in December 2022, the Central Bank of Egypt (CBE) revealed in a press release on February 9th.

For the first time since May 2022, Moody’s has downgraded Egypt’s credit rating, Egypt's long-term foreign- and local-currency issuer ratings, from B2 to B3, changing the outlook from negative to stable, Moody’s Investors Service said on Tuesday.

In its first meeting in 2023, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to maintain unchanged the current interest rates.