After meetings to review the financing program for Egypt, the International Monetary Fund issued a statement on the country’s economy. There has been progress with the implemented reforms, reflecting on the balance of exchange rates and inflation, but the regional environment, with the conflict in Gaza and attacks in the Red Sea, impacts the economic landscape.
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Economic activity picked up by nearly 1% month-on-month and by 5.1% year-over-year in September as per Brazilian Central Bank figures.
Results are better than in September 2023 due to the recovery of various sectors of the economy. Tourism revenues are increasing, but prices in the country still need to fall.
In an article sent to ANBA, Ambassador Ahmed Swar, charge d’affaires of the Sudanese Embassy in Brasília, provides an overview of his country’s history leading to the development of its current economic activities and invites Brazilian investors to enter the Sudanese market.
A World Bank analysis points out that the 26 poorest nations in the world are deeper in debt than at any time since 2006 and have struggled to attract low-cost financing.
The Arab country’s GDP may slow down in 2024, the same as it did in 2023, but an expected reversal of oil production cuts paves the way for 2.8% growth next year, the IMF said.
The Arab country’s GDP grew specially because non-oil activities. The manufacturing sector performed well, as did the financial and insurance sectors, professional, scientific and technical activities, transportation and storage, and information and communication.
The North African country’s minister of economy said the financial instrument will be released later this week for the purchase of basic items, of which the country still has stocks for three months.
King Abdulaziz City for Science and Technology (KACST) is looking for young companies in the technology, sustainability, and space sectors to develop research in labs in Saudi Arabia.
Last year, the Saudi economy was boosted by private consumption and non-oil investment. According to the IMF, the country is making progress in its diversification efforts. Non-oil GDP is expected to grow by 3.5% in 2024.
Brazilian economy grew 3.3% year on year in the second quarter and 1.4% compared to the first quarter. Services and industry sectors led growth in both comparisons.
According to an IMF report, Egypt is showing signs of recovery, with a better inflation rate and positive results of the unification of the exchange rate.
Inflation is declining, while the country cuts subsidies in a bid to battle a budget deficit.
Egypt announced a 15% in petrol prices ahead of an IMF meeting to review the payout package. Egypt suffers with inflation and devaluations of the currency. Attacks around the Red Sea hit revenues from the Suez Canal.
