Madbouly chaired a meeting on Tuesday to review the vision and strategy of the Ministry of Petroleum and Mineral Resources regarding the offering of several sector companies on the Egyptian Exchange.
These deals include the development of the Ras El-Hekma City project.
Egypt's financial regulator emphasizes the IPO program's importance for enhancing private sector involvement and economic growth.
This emerged as Egypt's largest foreign investment deal, amounting to $35 billion, to develop Ras El Hekma in the North Coast.
The AfDB projects Egypt’s average inflation rate at 14% for the next fiscal year (FY2023/2024), down from 20%, citing “high food and nonfood prices and the devaluation of the Egyptian pound against the US dollar"
