{"id":136710,"date":"2025-09-12T03:10:11","date_gmt":"2025-09-12T03:10:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/136710\/"},"modified":"2025-09-12T03:10:11","modified_gmt":"2025-09-12T03:10:11","slug":"egypts-prime-minister-says-worst-has-passed-on-external-debt-as-inflation-hits-three-year-low","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/136710\/","title":{"rendered":"Egypt\u2019s Prime Minister says worst has passed on external debt as inflation hits three-year low"},"content":{"rendered":"

Egyptian Prime Minister Mostafa Madbouly reassured the public that \u201cthe worst has passed\u201d with regard to the country\u2019s record high external debts<\/a>, while record inflation figures have also started to ease. <\/p>\n

Consumer prices fell last month, with the inflation level<\/a> at 12 per cent, down from 13.9 per cent in July. The rate in August was the lowest since March 2022.<\/p>\n

Mr Madbouly also highlighted the government\u2019s efforts to bring down the debt-to-GDP ratio to 80 per cent next year, down from a peak of about 97 per cent during the 2023-2024 financial year. The ratio of external debts to gross domestic product fell to 85 per cent during the 2024-2025 fiscal year, he said. <\/p>\n

The drop in Egypt’s inflation last month came as declines in the prices of meat, poultry and fruits partially offset cost increases for several key goods, including vegetables, dairy products, eggs and household appliances.<\/p>\n

The country’s strengthening pound helped reduce costs in the import-reliant economy, according to Japanese bank MUFG in a report on Thursday. <\/p>\n

\u201cThe currency, which lost nearly 40 per cent in March 2024, has since rebounded to around 48 per dollar, its strongest in 14 months, supported by foreign inflows, tourism and exports,\u201d it said. <\/p>\n

The downwards trend in the country\u2019s inflation rate since September 2023 \u2013 when it peaked at 38 per cent \u2013 has also prompted the Central Bank of Egypt to cut interest rates three times this year after maintaining a tight monetary policy to cool off the economy.<\/p>\n

The latest cut was two weeks ago when the bank reduced its overnight lending rate by 200 basis points. The prior cut, in May, slashed rates by 100 basis points. This followed an April reduction of 200 basis points.<\/p>\n

A tight monetary policy was one of the International Monetary Fund\u2019s conditions<\/a> when it agreed to lend Egypt $8 billion over four years last year.<\/p>\n

The country\u2019s industrialists had been bemoaning the high interest rates because they limited borrowing from banks for operational costs. <\/p>\n

This consequently resulted in a decrease in production output as many sectors including construction slowed significantly.<\/p>\n

However, Mr Madbouly said that the country recorded an increase in exports by about 20 per cent compared to the previous year, a change which he attributed to improving economic conditions.<\/p>\n

He said that lower interest rates enable the repayment of debts because of lower service fees but that the decision to increase or decrease them was not in his government\u2019s purview and was entirely up to the central bank\u2019s monetary policy committee.<\/p>\n

While highlighting the drop in Egypt’s annual urban consumer price inflation, some economists noted that this metric reflects price changes in urban areas only, which account for 44.4 per cent of Egyptian households, according to a Capmas report earlier this year. Rural inflation, which affects the remaining 55.6 per cent of households, is not captured in this figure and may show a different trend.<\/p>\n

Looking ahead, with inflation pressures easing and the central bank already cutting rates by 525 basis points this year, further monetary easing remains likely, though potential fuel price rises could temper such moves, MUFG said. <\/p>\n

However, Mr Madbouly has said that another hike in electricity prices was not in the government’s plan for now.<\/p>\n

Spec%20sheet<\/p>\n

%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%204.7%22%20Retina%20HD%2C%201334%20x%20750%2C%20625%20nits%2C%201400%3A1%2C%20True%20Tone%2C%20P3%3Cbr%3E%3Cstrong%3EChip%3A%3C%2Fstrong%3E%20Apple%20A15%20Bionic%2C%206-core%20CPU%2C%204-core%20GPU%2C%2016-core%20Neural%20Engine%3Cbr%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%2012MP%2C%20f%2F1.8%2C%205x%20digital%20zoom%2C%20Smart%20HDR%2C%20Deep%20Fusion%3Cbr%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%204K%2B%40%2024%2F30%2F60fps%2C%20full%20HD%2B%40%2030%2F60fps%2C%20HD%2B%40%2030%20fps%3Cstrong%3E%3Cbr%3EFront%20camera%3A%20%3C%2Fstrong%3E7MP%2C%20f%2F2.2%2C%20Smart%20HDR%2C%20Deep%20Fusion%3B%20HD%20video%2B%40%2030fps%3Cbr%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%20Up%20to%2015%20hours%20video%2C%2050%20hours%20audio%3B%2050%25%20fast%20charge%20in%2030%20minutes%20with%2020W%20charger%3B%20wireless%20charging%3Cbr%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Touch%20ID%3Cbr%3E%3Cstrong%3EDurability%3A%3C%2Fstrong%3E%20IP67%2C%20dust%2C%20water%20resistant%20up%20to%201m%20for%2030%20minutes%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1%2C849%3C%2Fp%3E%0A<\/p>\n

The five pillars of IslamThe\u00a0five\u00a0pillars\u00a0of\u00a0IslamKilling of Qassem SuleimaniNew Zealand squad<\/p>\n

Tim Southee (capt), Trent Boult (games 4 and 5), Colin de Grandhomme, Lockie Ferguson (games 1-3), Martin Guptill, Scott Kuggeleijn, Daryl Mitchell, Colin Munro, Jimmy Neesham, Mitchell Santner, Tim Seifert, Ish Sodhi, Ross Taylor, Blair Tickner<\/p>\n

FIGHT%20CARD<\/p>\n

%3Cp%3EAnthony%20Joshua%20v%20Otto%20Wallin%2C%2012%20rounds%2C%20heavyweight%3C%2Fp%3E%0A%3Cp%3EDeontay%20Wilder%20v%20Joseph%20Parker%2C%2012%20rounds%2C%20heavyweight%3C%2Fp%3E%0A%3Cp%3EDmitry%20Bivol%20v%20Lyndon%20Arthur%2C%2012%20rounds%2C%20light%20heavyweight%3C%2Fp%3E%0A%3Cp%3EDaniel%20Dubois%20v%20Jarrell%20Miller%2C%2012%20rounds%2C%20heavyweight%3C%2Fp%3E%0A%3Cp%3EFilip%20Hrgovic%20v%20Mark%20de%20Mori%2C%2012%20rounds%2C%20heavyweight%C2%A0%3C%2Fp%3E%0A%3Cp%3EArslanbek%20Makhmudov%20v%20Agit%20Kabayel%2C%2012%20rounds%2C%20heavyweight%C2%A0%3C%2Fp%3E%0A%3Cp%3EFrank%20Sanchez%20v%20Junior%20Fa%2C%2012%20rounds%2C%20heavyweight%C2%A0%3C%2Fp%3E%0A%3Cp%3EJai%20Opetaia%20v%20Ellis%20Zorro%2C%2012%20rounds%2C%20cruiserweight%3C%2Fp%3E%0A<\/p>\n

Zayed Sustainability PrizeRead more about the coronavirusMore coverage from the Future ForumThe years Ramadan fell in MayCOMPANY%20PROFILE<\/p>\n

%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A<\/p>\n

Killing of Qassem SuleimaniThe years Ramadan fell in MayKilling of Qassem SuleimaniCOMPANY%20PROFILE%20<\/p>\n

%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A<\/p>\n

Killing of Qassem SuleimaniMohammed bin Zayed MajlisMore on Quran memorisation:Mohammed bin Zayed MajlisMore from Neighbourhood Watch:Mohammed bin Zayed MajlisMore on animal traffickingWhat are the influencer academy modules?
\nMastery of audio-visual content creation.\u00a0
\nCinematography, shots and movement.
\nAll aspects of post-production.
\nEmerging technologies and VFX with AI and CGI.
\nUnderstanding of marketing objectives and audience engagement.
\nTourism industry knowledge.
\nProfessional ethics.
\nKey findings of Jenkins report
\nFounder of the Muslim Brotherhood, Hassan al Banna, “accepted the political utility of violence”
\nViews of key Muslim Brotherhood ideologue, Sayyid Qutb, have \u201cconsistently been understood\u201d as permitting \u201cthe use of extreme violence in the pursuit of the perfect Islamic society\u201d and \u201cnever been institutionally disowned\u201d by the movement.
\nMuslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
\nLaying out the report in the House of Commons, David Cameron told MPs: “The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism.”
\nSome of Darwish’s last words<\/p>\n

“They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope.” – Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008<\/p>\n

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian\u00a0poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.<\/p>\n

UAE SQUAD<\/p>\n

\u00a0<\/p>\n

Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani<\/p>\n

Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Mohammed Al Attas<\/p>\n

Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah<\/p>\n

Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue<\/p>\n

Results<\/p>\n

Ashraf Ghani 50.64 per cent<\/p>\n

Abdullah Abdullah 39.52 per cent<\/p>\n

Gulbuddin Hekmatyar 3.85 per cent<\/p>\n

Rahmatullah Nabil 1.8 per cent<\/p>\n

FIXTURES<\/p>\n

Thursday
Dibba v Al Dhafra, Fujairah Stadium (5pm)
Al Wahda v Hatta, Al Nahyan Stadium (8pm)<\/p>\n

Friday
Al Nasr v Ajman, Zabeel Stadium (5pm)
Al Jazria v Al Wasl, Mohammed Bin Zayed Stadium (8pm)<\/p>\n

Saturday
Emirates v Al Ain, Emirates Club Stadium (5pm)
Sharjah v Shabab Al Ahli Dubai, Sharjah\u00a0Stadium (8pm)<\/p>\n

UAE currency: the story behind the money in your pocketsNepotism is the name of the game<\/p>\n

Salman Khan\u2019s father, Salim Khan, is one of Bollywood\u2019s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry\u2019s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed\u00a0duo also created the persona of the \u201cangry young man\u201d for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man\u2019s \u201chero\u201d as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father\u2019s oeuvre. Thanks dad.\u00a0<\/p>\n

The Sheikh Zayed Future Energy Prize<\/p>\n

This year\u2019s winners of the US$4 million Sheikh Zayed Future Energy Prize will be recognised and rewarded in Abu Dhabi on January 15 as part of\u00a0Abu Dhabi Sustainable Week, which runs in the capital from January 13 to 20.<\/p>\n

From solutions to life-changing technologies, the aim is to discover innovative breakthroughs to create a new and sustainable energy future.<\/p>\n

COMPANY PROFILE <\/p>\n

Name:\u00a0Kumulus Water<\/p>\n

\u00a0<\/p>\n

Started: 2021<\/p>\n

\u00a0<\/p>\n

Founders: Iheb Triki and Mohamed Ali Abid<\/p>\n

\u00a0<\/p>\n

Based: Tunisia\u00a0<\/p>\n

\u00a0<\/p>\n

Sector: Water technology\u00a0<\/p>\n

\u00a0<\/p>\n

Number of staff: 22\u00a0<\/p>\n

\u00a0<\/p>\n

Investment raised: $4 million\u00a0<\/p>\n

UAE currency: the story behind the money in your pocketsUAE currency: the story behind the money in your pocketsZayed Sustainability PrizeMohammed bin Zayed MajlisAbu Dhabi Sustainability WeekUltra processed foods<\/p>\n

– Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns\u00a0<\/p>\n

– margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal\u00a0and energy\u00a0bars;<\/p>\n

– energy drinks, milk drinks, fruit\u00a0yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant\u00a0sauces<\/p>\n

– infant formulas and follow-on milks, health and slimming\u00a0products such as powdered or fortified\u00a0meal and dish substitutes,<\/p>\n

– many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant\u00a0soups, noodles and desserts.<\/p>\n

More from Neighbourhood Watch:Women%E2%80%99s%20Asia%20Cup<\/p>\n

%3Cp%3E%3Cstrong%3EUAE%20fixtures%3C%2Fstrong%3E%3Cbr%3ESun%20Oct%202%2C%20v%20Sri%20Lanka%3Cbr%3ETue%20Oct%204%2C%20v%20India%3Cbr%3EWed%20Oct%205%2C%20v%20Malaysia%3Cbr%3EFri%20Oct%207%2C%20v%20Thailand%3Cbr%3ESun%20Oct%209%2C%20v%20Pakistan%3Cbr%3ETue%20Oct%2011%2C%20v%20Bangladesh%3Cbr%3E%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%3Cbr%3EChaya%20Mughal%20(captain)%2C%20Esha%20Oza%2C%20Kavisha%20Kumari%2C%20Khushi%20Sharma%2C%20Theertha%20Satish%2C%20Lavanya%20Keny%2C%20Priyanjali%20Jain%2C%20Suraksha%20Kotte%2C%20Natasha%20Cherriath%2C%20Indhuja%20Nandakumar%2C%20Rishitha%20Rajith%2C%20Vaishnave%20Mahesh%2C%20Siya%20Gokhale%2C%20Samaira%20Dharnidharka%2C%20Mahika%20Gaur%3C%2Fp%3E%0A<\/p>\n

57%20Seconds<\/p>\n

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rusty%20Cundieff%0D%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EJosh%20Hutcherson%2C%20Morgan%20Freeman%2C%20Greg%20Germann%2C%20Lovie%20Simone%0D%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%0D%3Cbr%3E%0D%3Cbr%3E%3C%2Fp%3E%0A<\/p>\n","protected":false},"excerpt":{"rendered":"Egyptian Prime Minister Mostafa Madbouly reassured the public that \u201cthe worst has passed\u201d with regard to the country\u2019s…\n","protected":false},"author":2,"featured_media":136711,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,15785,164,5579,5465,156,155],"class_list":["post-136710","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-business-team","tag-economy","tag-egypt","tag-inflation","tag-standard","tag-story"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/136710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=136710"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/136710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/136711"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=136710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=136710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=136710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}