Egypt’s cabinet approved a draft law on Wednesday that would see public sector salaries cut by one percent starting in July for a duration of 12 months.

Egyptian Prime Minister Mustafa Madbouli yesterday ordered his cabinet ministers to put together an austerity plan in order to deal with economic and financial consequences of the outbreak of the coronavirus, Anadolu reported.

Youssef, a Sudanese refugee in Cairo, laments over the fact that he has just been laid off from his job at a cafe. His children, who previously attended public school, now do not have the means to attend the virtual classes being held as they have no access to a …

Egypt faces an estimated $10bn funding shortfall this year as its economy is battered by coronavirus.

Egypt’s former investment minister has warned a $2.77bn IMF loan will deepen austerity and inflict great harm on the country’s poor, as the Middle East’s most populous nation struggles amid the coronavirus pandemic.

The International Monetary Fund on Monday said its executive board approved $2.77 billion in emergency financing to help Egypt grapple with the new coronavirus pandemic that has brought tourism to a standstill and triggered major capital flight.

As the clock strikes nine over a corner of Heliopolis, cars and pedestrians alike begin to disappear from the streets one by one. The rushing noises and the voices of people hurrying home on the main street nearby slowly begin to fade and the barking of packs of stray dogs …

Despite the strain that the COVID-19 pandemic has placed on Egypt’s economy, the Cabinet appears set to keep social spending level in the budget for the new fiscal year.

President Abdel Fattah al-Sisi attended the April 22 inauguration of a number of national projects in Sinai designed to boost the country’s economy amid the novel coronavirus pandemic.

Egypt is seeking an aid package from the International Monetary Fund to offset the economic impact of the coronavirus pandemic, Prime Minister Mostafa Madbouli said Sunday.