Increases in food prices triggered by Russia’s war in Ukraine could kill “millions” of people globally, Egypt’s finance minister has cautioned, echoing warnings made by the UN and G7 countries over the worldwide wheat shortage.

The government has laid out a plan to withdraw its arm from select sectors of the economy, including large swaths of agricultural and livestock production, construction industries and hospitality.

Mustafa Mohamed deferred the sale of the $1,500 he was paid by the company he works for as a freelance translator two weeks ago in hope that the exchange rate of the American currency would rise against the Egyptian pound in the coming period.

Egyptian Prime Minister Mostafa Madbouli announced Sunday a string of planned privatisations of state-owned companies, as Cairo grapples with an economic crisis and inflation at almost 15 percent.

Egypt intends to list military-owned companies on the stock market before the end of 2022, as it grapples with the economic impact of Russia’s invasion of Ukraine.

As the end of Ramadan draws near across the Muslim world, Egypt continues to see record-high inflation rates, which have manifested in skyrocketing prices of consumer goods causing a surge in food prices.

The war between Russia and Ukraine has put the Egyptian economy under pressure. The government in Cairo announced last month that it had requested support from the International Monetary Fund to mitigate the economic shock of the war. Egypt should also receive about $22 billion from Saudi Arabia, Qatar and …

Egyptian authorities have arrested three TikTok users for making satirical videos criticising the country’s rising food prices, Egyptian news outlet Al Manassa reported Thursday.

The Egyptian government has obtained funding to rehabilitate its dam on the Nile River. Germany’s KfW Development Bank agreed to finance $28.3 million for a rehabilitation project of hydroelectric stations in the Aswan Dam in southern Egypt, Egypt’s Ministry of International Cooperation announced Wednesday in a tweet.

The Minister of Water Resources and Irrigation in Egypt, Mohamed Abdel Aaty, affirmed during a meeting with the Japanese ambassador, to discuss the implementation of freshwater projects in Egypt Egypt’s position in preserving its water rights and achieving the interests of everyone in any agreement on the Grand Ethiopian Renaissance …