Egypt inflation hits 15-year low

The Central Bank of Egypt's headquarters in downtown Cairo, Egypt, March 8, 2016. (Reuters)
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Updated 26 January 2021
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Egypt inflation hits 15-year low

  • Government controls on food prices helped reduce the inflation rate to 5 percent, defying forecasts by some major global institutions
  • The Economist expected the rate to reach 5.6 percent in 2020, while Fitch Ratings and Bloomberg suggested 5.9 percent

CAIRO: Egypt’s inflation rate of 5 percent in 2020 was its lowest for 15 years, according to a Cabinet report, which highlighted government initiatives to counter the economic effects of the coronavirus pandemic.

Government controls on food prices helped reduce the inflation rate, defying forecasts by some major global institutions, the report said.

The Economist expected the rate to reach 5.6 percent in 2020, while Fitch Ratings and Bloomberg suggested 5.9 percent.

According to the report, Egypt’s success in controlling food prices came after a sharp rise in inflation in 2017 due to the start of an economic reform program and liberalization of the exchange rate.

The Cabinet report said that Egypt achieved the largest annual decline in inflation among emerging market countries, with the figure falling by 4.2 percentage points from 9.2 percent in 2019.


QIA, Franklin Templeton launch $200m Qatar equity fund 

Updated 17 sec ago
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QIA, Franklin Templeton launch $200m Qatar equity fund 

RIYADH: Qatar’s sovereign wealth fund has teamed up with Franklin Templeton to launch a $200 million equity fund focused on the local stock market, part of efforts to deepen liquidity and attract institutional investors to Qatar’s capital markets. 

The Qatar Investment Authority and the US asset manager said the Franklin Templeton Qatar Equity Fund will operate as a day-traded mutual fund investing in companies listed on the Qatar Stock Exchange, according to the Qatar News Agency. 

The launch comes after a PwC report earlier in February highlighted growing optimism among CEOs in Qatar, with companies increasing investment, pursuing acquisitions and expanding operations as the country pushes toward innovation-led growth. 

Mohammed Saif Al-Sowaidi, CEO of QIA, said: “With the launch of Franklin Templeton Qatar Equity Fund, QIA is further expanding our Active Asset Management Initiative to support Qatar’s financial markets.”  

He added: “As one of the largest global asset managers, Franklin Templeton brings a wealth of experience and resources to QSE and the broader Qatari economy and we look forward to working closely together on this initiative.” 

The fund aims to give investors exposure to Qatar Stock Exchange-listed equities, allowing local and international institutions to access an actively managed portfolio in the domestic market, QNA reported. 

QIA is the fund’s lead investor, contributing cash and shares, underscoring its commitment to the Qatari stock market. The reallocation of QSE-listed shares is intended to support the domestic economy and enhance market liquidity, it added. 

Franklin Templeton manages about $1.68 trillion in assets as of Dec. 31, 2025, making it one of the world’s largest investment firms. 

“Through our partnership with QIA, we aim to contribute meaningfully to the continued development of the Qatari financial ecosystem. We see this collaboration as the beginning of a long-term strategic partnership and part of a broader, multi-asset collaboration between Franklin Templeton and QIA,” said Jenny Johnson, CEO of Franklin Templeton. 

The Franklin Templeton Qatar Equity Fund represents a key step in QIA’s active asset management strategy and highlights its partnership with Franklin Templeton in supporting Qatar’s capital markets through global investment expertise.