Daily brief
Egypt and the African Development Bank have signed $170 million in financing deals to support the state budget, advance structural reforms, and fund a wastewater project, as part of broader efforts to secure international funding for development.
The Egyptian government is taking steps to protect national gold reserves as domestic gold prices continue to hit record highs amid strong demand.
Qarm Holding will invest $610 million in Egyptian energy projects, while Elsewedy Electric and a Hong Kong partner plan to build a $350 million textile complex.
An IMF report projects Egypt's GDP growth will reach 5.4% by the 2026/2027 fiscal year.
Egyptian officials inspected development projects in Cairo, while the governor of Alexandria oversaw road works and the removal of a dangerous building.