The Central Agency for Public Mobilization and Statistics (CAPMAS) has announced that the annual urban inflation rose to 32.7% in March 2023, compared to 31.9% in February, marking its highest level since July 2017, when it reached 32.95%.

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.