These deals include the development of the Ras El-Hekma City project.
Egypt's financial regulator emphasizes the IPO program's importance for enhancing private sector involvement and economic growth.
This emerged as Egypt's largest foreign investment deal, amounting to $35 billion, to develop Ras El Hekma in the North Coast.
The AfDB projects Egypt’s average inflation rate at 14% for the next fiscal year (FY2023/2024), down from 20%, citing “high food and nonfood prices and the devaluation of the Egyptian pound against the US dollar"
