Emergency motion by the Central Financial institution earlier than the Eid vacation… a soar in Egypt’s debt repayments… and the federal government declares circumstances for electrical energy cuts throughout Eid

Emergency motion by the Central Financial institution earlier than the Eid vacation.. Leap in reimbursement of Egypt’s debt… and the federal government declares a state of affairs to chop electrical energy in the course of the Eid.. Welcome to Harvest Thursday information

Beginning with the banking sector… Financial institution of Egypt.

In accordance with a publication issued by the Central Financial institution of Egypt on its official web site, the Central Financial institution is providing monetary payments value 30 billion kilos for a interval of three months which can be issued on June 18 , 2024, with the quantity to mature on September. 17, 2024.

At this time, Thursday, the Central Financial institution can also be providing monetary payments value 20 billion kilos for a interval of 9 months, to be issued on June 18, 2024, and the quantity will mature on March 18, 2025 , in accordance with what was stated on the official. Central Financial institution web site.

And we proceed within the banking sector… The newest month-to-month statistical bulletin of the Central Financial institution of Egypt revealed that Egypt paid $15.55 billion in whole dividends and curiosity on overseas debt within the first half of the fiscal 12 months 2023/2024, at $10.95 billion within the worth of dividends paid, and 4.61 billion in worth.

The whole worth of Egypt’s exterior debt recorded about 168.03 billion {dollars} on the finish of the primary half of 2023/2024, in comparison with 164.73 billion {dollars} on the finish of the fiscal 12 months 2022/2023.

Complete financial institution deposits (excluding the Central Financial institution) elevated at a development fee of 4.5% within the first two months of this 12 months, to register 10.62 trillion kilos on the finish of February 2024, in comparison with 10.16 trillion on the finish of December 2023, with an incremental worth of 454.1 billion kilos.

Complete financial institution loans (excluding the Central Financial institution) additionally elevated, registering 5.64 trillion kilos on the finish of February 2024, in comparison with 5.29 trillion on the finish of December 2023, rising at a fee of 6.73%, and recording a rise of 355.9 billion. kilos within the first two months of this 12 months.

We go to the electrical energy disaster and a brand new improvement revealed by Councilor Muhammad Al-Homsani, spokesman for the Presidency of the Council of Ministers, concerning the plan to cut back hundreds in the course of the days of Eid Al-Adha.

Al-Homsani defined that concerning the cancellation of the implementation of the plan to cut back electrical energy hundreds in Egypt in the course of the interval of Eid al-Adha, this matter has not but been investigated, and if a step is taken on this regard, it is going to be introduced instantly.

He stated that this can be very vital for the federal government to enhance the electrical energy state of affairs in Egypt within the coming interval.

He stated: “We’re working to extend the assets of the Ministry of Electrical energy to take care of electrical energy theft, and it’s anticipated that electrical energy load shedding can be canceled by the top of this 12 months, as confirmed by Dr. Mostafa Madbouly not too long ago.”

The newest information is with us from the Ministry of Agriculture… the place Mr. Al-Quseir, Minister of Agriculture and Land Reclamation, assigned the analysis facilities and their consultants, every in his specialty, to conduct additional research to increase , analysis, experiments, extension areas, breeding applications, and improvement of sorts and hybrids for a number of crops, no matter whether or not they at the moment exist.

The minister defined that this got here with the goal of increasing and rising the productiveness of every unit discipline, or presenting outcomes there for brand spanking new crops and their suitability for the Egyptian atmosphere, and making extra efforts to provide high-yielding varieties and hybrids. improvement that’s doable. face up to environmental pressures underneath totally different circumstances, equivalent to (jojoba – cassava – millet – Sorghum – prickly pear and different comparable crops, taking care that every one these fashions are underneath direct supervision and thru recording actual discipline and laboratory measurements and such observations, that actual indicators are supplied on the idea of which acceptable choices could be made.