Britain begins consultations with Egypt about the Omar project and postpones the float to this date

https://www.youtube.com/watch?v=PAev9YS-ldA?si=tOX0b2DVkXXgt5uo

We present the latest news about Egypt and the Egyptian economy in light of the upcoming Egyptian presidential elections in this episode of Samri Channel

Updates on the Egyptian economy presented in this episode of Samri Channel.
Starting with the British newspaper The Telegraph, which said that Britain intends to connect its electrical network to a huge renewable energy project generated from solar and wind energy that Egypt intends to launch with Greece during the coming period.

As for the economic partnership project between Britain’s electrical networks and Egypt, it is a project that aims to connect the two countries’ electricity networks via underwater cables extending from the city of Matrouh in Egypt to the city of Cornwall in Britain4. This project will allow the exchange of electrical energy between the two countries, increase the efficiency of resource use, and improve energy security5. The project is expected to start operating in 2025

From renewable energy to natural gas, the Oil Price website said that there is a state of optimism within the Egyptian government about the possibility of Cairo returning to exporting liquefied gas once the expansion of discovering new fields in Egypt is completed, as the Minister of Petroleum, Engineer Tarek El Molla, said that $9 billion is the volume of... Foreign investments in modern oil and gas discoveries in the country.

In Central America, the drying up of the Panama Canal has a severe impact on global trade, forcing giant containers to shift towards Egypt, where the Suez Canal is located, which increases the latter’s profits, which have reached record levels.

Inside Egypt, the Central Bank decided to stabilize interest rates, while reports expected to postpone the first review of the International Monetary Fund until the beginning of next year, while merging it with the second review of the Fund. Core inflation rates also continued to reach record highs in Egypt, recording 40%.

In the investment context, the Saudi sovereign fund decided to buy shares in 3 Egyptian non-governmental companies. Meanwhile, the Egyptian Sabbour Real Estate Group announced a long-term plan for cooperation with Saudi real estate companies. Finally, Egyptian Prime Minister Dr. Mostafa Madbouly witnessed the signing of a contract to establish a tire factory worth one billion euros in the Suez Canal Economic Zone.

The latest economic news in Egypt today

The Central Bank of Egypt raises the base interest rate by 0.25% to confront inflation pressures
Egypt achieves a trade surplus with Britain worth $1.2 billion in the first half of 2023.
Egypt receives the first shipment of liquefied natural gas from Russia as part of a 15-year agreement.

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