Real GDP is expected to rise to 4.9 percent during the next fiscal year 2024-2025 from 3.5 percent this year, and Goldman Sachs expects Egypt to achieve a surplus of 3.5 percent in 2025 . Ahmad Abdel-Rahman explains. These figures were shown in a recent report by the US investment bank, Goldman Sachs. They were against the backdrop of the measures ...
New Zealand PM bows out
Here's an article from The Economist which, while talking about John Key's resignation, states that NZ is "one of the most successful countries in the world. While this is debatable, there is no doubt that Key has had successes- namely international recognition- along with failures, housing, immigration and the environment. We have yet to see whether the new Prime Minister, John English, will have the same success.
Ahmad Abdul-Rahman from Egypt writes that the US's position regarding current regional developments raises many questions and it may have lost much of its limited credibility in the region. It is not an exaggeration to say that the developments of the coming weeks will have important effects on the people of Gaza and on the stability of the Middle ...
The Egyptian Center for Strategic Studies (ECSS) warned of the negative consequences of the Israeli war on Gaza and stressed that solving the Palestinian issue is the key to regional stability, writes Ahmad Abdel-Rahman. Egypt adopts a neutral stance towards the successive crises in the Middle East. Its approach is based primarily on stopping escal...
Forecasts from Moody's Analytics suggest that the non-oil sector will grow in Saudi Arabia between 3 and 4 percent until 2030. Ahmad Abdel-Rahman explains. The global economy entered 2024 with significant uncertainty about future performance. The International Monetary Fund's (IMF) outlook in described it as "fragile", in its report issued las...
Hydrogen is the fuel of the future, according to countries in the Middle East. Indeed, the largest clean energy production project in the world is in Saudi Arabia, and specialists believe that its strategic location serves it well, writes Ahmad Abdel-Rahman. The Middle East is moving towards a faster and more important position on the global gr...
The Israeli economy is facing the heaviest losses in its history and a downgrade of the credit rating, writes Ahmad Abdel-Rahman. As the cost of the war in Gaza rises, the Israeli economy is facing the most severe losses in its history. Companies are facing heavy losses as production falters amid a record call-up of reservists. Recent data showed t...
Egypt has been recovering from an economic slowdown and recent growth rates in several sectors show how the economy is performing. Ahmad Abdel-Rahman writes about what is happening. The tourism sector in Egypt in 22/23 had revenue of USD 13.6 billion with a growth rate of 28 per cent. The Suez Canal ranked second with a growth rate of 18.4 per cent...
The US President, Joe Biden, warned Israel of the consequences of not protecting civilians in the Gaza Strip and allowing humanitarian aid to arrive. If the Israeli Prime Minister, Benjamin Netanyahu, does not abide by US demands, "Washington will curb its support" for Tel Aviv . Ahmad Abdel-Rahman writes. In the last call between Joe Biden and Ben...
Goldman Sachs issued a report on the repercussions of the recent economic decisions announced by Egypt. The report included several positive messages about the future path of the Egyptian economy, especially in relation to the annual inflation rate, which is expected to decline to 25 per cent from 35 per cent by the end of this year, writes Ahmad A...
Forty Chicago leaders refuse to meet with White House officials as Washington continues to fund the war. Newspapers say the US administration's position will cost Biden the votes of Arab Americans in the 2024 presidential elections. Ahmad Abdel-Rahman explains. As the Israeli massacres continue even in the holy month of Ramadan, pressure continues ...
Washington is finalising a UN security council resolution to support global efforts to end the Gaza war. The draft rejects any displacement of the population from Gaza. A ceasefire, hostages' release, and humanitarian aid are among Washington's demands, writes Ahmad Abdul-Rahman from Egypt. More than five months have passed since the war in Gaza st...
"Billions of Gulf dollars are heading to Egypt as the Middle East war rages " , according to a report by the news agency, Bloomberg. Ahmad Abdel-Rahman explains what this means. A Bloomberg report said that Egypt has moved from the brink of economic disaster to obtaining more than USD40 billion in investments and loans from the United Arab Emirates...
The Yemenis must be at-one in supporting the Palestinians and seeking to alleviate their plight. This article by Abdel Ahmed in Egypt explains what is at stake. The Yemeni people are known for their strong commitment to the Palestinian cause. So, although they back the Houthi "Ansar Allah" group this should not be held against them. Indeed, the jus...
Why does Tehran not cooperate with Middle East countries to ensure the greatest possible benefit from the region's resources ? Ahmad Abdel Rahman, from Egypt, explains why this might be the case. The term "New Middle East" is used a great deal, but there can be a big difference between the Middle East as Iran wants it, and the one that exists in th...
The price of the gold jumped by more than 92 per cent since the beginning of 2023 , with Egyptian purchases rising at record rates. Ahmad Abdel-Rahman writes. As a result of the turmoil in the Egyptian market because of the dollar crisis, gold attracted some money. It has reached record heights over the past year. According to official statistics i...
The behavio u r of Iran and its loyal militias has turned Iraq and Syria into places for retaliatory attacks, writes Ahmad Abdel-Rahman. Both Washington DC and Tehran have tried to maintain non-confrontational and escalating attacks, thereby keeping tension at a minimum. However, the display of Iranian power in the Middle East by pushing pro-Tehran...
Egypt tops the list of Arab countries which have ongoing hydrogen projects , writes Ahmad Abdel-Rahman from Egypt. The year 2023 saw Arab countries continue to enhance international cooperation and partnership in the field of hydrogen. They signed memoranda of understanding with international actors, as well as concluding preliminary agreements to ...
2023 has been another dismal year for IPOs globally, but the Middle East has shined. This is expected to extend into 2024, writes Ahmad Abdel-Rahman. Over the past two years, the energy-rich Gulf Co-operation Council (GCC) has emerged as a crowded market for initial public offerings (IPOs). Governments determined to move their economies away from o...
There are expectations that the Egyptian pound will be devalued by 30 per cent amid speculation that the IMF will increase its financing during the first quarter of 2024, writes Ahmad Abdel-Rahman. The Central Bank of Egypt (CBE) could reduce the value of the Egyptian pound by about 30 per cent against the US dollar, according to a recent report by...
The Egyptian Prime Minister reviewed a report outlining some of the benefits of Egypt's first gold fund, explains Ahmad Abdel-Rahman. Egyptian Prime Minister, Mostafa Madbouly, reviewed a report prepared by the General Authority for Financial Supervision (GAFS) on the launch of the first gold investment fund. Its establishment coincides with the in...