First Independent Mena Newspaper
Egypt’s current account deficit narrowed significantly to $13.2 billion during the first nine months of the 2024/2025 fiscal year, down from $17.1 billion a year earlier, the Central Bank of Egypt announced on Tuesday, July 22. This improvement was driven primarily by an 86.6% surge in remittances from Egyptians abroad, reaching $26.4 billion, and a […]
Ahmed Hachani, Tunisia’s new Prime Minister swore in on Monday July 31 right after his appointment, before President Kais Saied, a few hours the latter fired the country’s first female Premier Najla Bouden. “There are great challenges that we must meet with determination and a strong will to preserve our homeland, our State and civil […]
Egypt’s Prime Minister Mostafa Madbouly has announced the government’s intention to unveil the plan for offering state-run companies on the Egyptian Exchange (EGX) in 2023 within two weeks. Madbouly, Asharq business reports, indicated that the Cabinet would soon reveal the names of the companies to be offered on EGX throughout 2023. Egypt has been planning […]
Morocco plans to increase the budget for health, education and social safety nets next year but expects the budget deficit to be reduced thanks to an increase in tax revenue, reads the 2023 draft budget. The budget plans to increase in the next four years taxes on companies exceeding 100 million dirhams in annual profits. […]
Tunisia has adopted the 2022 budget short of around $2.8 billion amid economic hardship that has hit the country also gripped by an unprecedented political crisis, triggered since July 25 after President Kais Saied has seized all major powers. The Tunisian government, Webdo Tunis reports, will present this Tuesday the draft of the financial act […]
Tunisia has demanded the review of the free trade agreement with Turkey in a bid to protect national production, the Tunisian minister of Trade has announced. Mohamed Boussaid told local daily La Presse that the trade balance with Turkey has been very disadvantageous for Tunisia. Tunisia and Turkey signed in 2005 a free trade agreement […]
The Tunisian economy continues to suffer from major difficulties, including high external and fiscal deficits, increasing debt, while growth is too low to reduce unemployment, says the International Monetary Fund. “Tunisia’s fiscal and external deficits reached record levels. The wage bill has climbed to one of the highest in the world, and public debt further […]
The drop in oil prices has taken a heavy toll on Algeria’s budget revenues with the trade deficit expanding to 15.8 billion dollars as of October compared to 13.7 billion dollars the same period last year. By the end of October, Algeria’s export revenues slipped by 23.44% standing at 22.7 billion dollars propelling the government […]
Algeria’s trade deficit slipped into 14 billion dollars in the first 8 months of 2016 because of the fall in oil revenues, propelling the government to draft an austere appropriation bill for 2017 with the introduction of new taxes in a bid to minimize losses. Algeria’s trade deficit worsened despite an 11% decline in imports […]
If Egypt has declared that it’s no more interested in International Monetary Fund’s (IMF) loan, Tunisia on the other hand has not ruled out its emergency loan which is on standby. However, planned protests and strikes for the following weeks might jeopardize the Tunisian government’s ability to overcome its shaky finance and at worst, its […]