Egypt in January 2026: the most important developments in economy
In January 2026 Egypt's economic news centred on efforts to attract foreign investment. President Abdel Fattah el-Sisi travelled to the World Economic Forum in Davos, where he promoted opportunities in energy, automotive and technology, said the economy had overcome major challenges and stressed the role of the private sector. Egypt reported growth of 5.3% for the early part of the 2025/26 fiscal year, and its stock market reached record highs. Deals announced during the month included renewable energy agreements worth 1.8 billion dollars, a 2 billion dollar phosphate ore investment by the Chinese chemicals maker Xingfa, 610 million dollars from Qarm Holding in energy projects, a 350 million dollar textile complex planned by Elsewedy Electric and a Hong Kong partner, and 1.29 billion dollars of approved chemical and tire projects in the Suez Canal Economic Zone. Business chambers in Cairo and Sohag also signed cooperation agreements with banks and the Egypt Clearing Company.
The Suez Canal was the second main theme. One of the world's largest container ships, the CMA CGM Seine, made its first transit on 29 January. Canal revenues rose 18.5% in the first half of the 2025/26 fiscal year, and Egypt opened a new container terminal aimed at making it a regional logistics hub. Maersk said it had resumed shipping through the Red Sea after a ceasefire in the region, while CMA CGM reported reducing its transits through the canal.
On public finances, Egypt received 1 billion euros from the EU, with a further 3 billion euros expected under a 7.4 billion euro package. It also signed 170 million dollars in financing with the African Development Bank. Prime Minister Mostafa Madbouly said Egypt had paid 5 billion dollars in arrears to foreign oil companies. The IMF board is due to review Egypt's programmes in the first quarter, and the Fund projects growth of 5.4% by 2026/27.
At home, a customs exemption for mobile phones brought in by travellers ended on 21 January, and prices are expected to rise. Gold prices in Egypt reached record highs, with buyers reporting long waits.
by WorldBrief & Maksim Micheliov | AI-generated summary
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