EconSource: Suez Canal Certificate Sales Inject EGP 27 Billion into Egypt’s Banks

Follow the latest in economic news and developments about the Arab transition countries. 

Investment certificates issued earlier this month to finance the digging of a new Suez Canal have attracted LE27 billion ($3.8 billion) of fresh cash to the Egyptian banking system, announced the central bank’s governor, Hisham Ramez, on Sunday. [Ahram Online]


Morocco’s consumer price inflation eased to an annual 0.3 percent in August as food prices fell, the High Planning Authority said on Monday. Inflation came down from 0.4 percent in July. On a month-on-month basis, the consumer price index rose 0.6 percent in August after rising 0.1 percent in July. [Reuters]


The six-nation Gulf Cooperation Council (GCC) will attend a high-profile ministerial conference held by the “Friends of Yemen” group in New York on Sept. 24. The meeting will renew calls for donors to raise contributions and honor their past pledges, while setting priorities for action on security and political transition amid growing insecurity and violence in Yemen. [Arab News]


Hundreds of stakeholders gathered at the Dead Sea on Saturday to discuss remedies for Jordan’s economic woes and strategies to develop economic performance over the next 10 years. The first national conference for the 2025 economic vision was inaugurated by Prime Minister Abdullah Ensour, who stressed the government’s commitment to implementing the outcome of the final version of the plan and measures included in the blueprint. [Jordan Times]






Also of Interest:

Suez certificates bought by 82 percent citizens, 18 percent institutions: CBE governor | DNE

Egypt’s natural gas exports drop 73.4 percent in July: Report | Ahram Online

Egypt begins collecting property tax | DNE

Report: Egypt’s economy over three years of turmoil | DNE

Op-ed: Can tourism carry the Moroccan economy? | MWN

Tunisians discuss wage increases for public sector | L’Economiste Magharebin (French)

UN chief, Aston discuss Middle East issues | JNA