🇪🇬EgyptNorth Africa
Egypt and Austria discuss regional developments and bilateral cooperation
via Egypt Today2 min read
Egypt's Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty held a phone call with Austrian Foreign Minister Beate Meinl-Reisinger to discuss strengthening bilateral relations and exchanging views on regional issues. Abdelatty affirmed Egypt's commitment to enhancing cooperation and coordination on regional and international matters, building on the political consultation mechanism signed in Cairo in June 2025. He emphasized advancing bilateral ties, particularly in economic, trade, and investment sectors. Abdelatty congratulated his Austrian counterpart on Austria's election as a non-permanent member of the United Nations Security Council for the 2027–2028 term, expressing Egypt's desire for increased coordination during this period to support international peace and security. The ministers also discussed regional developments, with Abdelatty detailing Egypt's efforts to support the US-Iranian negotiating track and its coordination with partners to de-escalate tensions. Meinl-Reisinger commended Egypt's constructive role in reducing regional tensions and enhancing stability. Both sides agreed to continue strengthening bilateral relations and intensifying coordination on international and regional issues, stressing that diplomatic solutions are crucial for security and stability.
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This summary was AI-generated from a story originally published by Egypt Today.
Cairo hosted high-level meetings on Sunday, July 19, 2026, aimed at supporting peace, security, and stability in the Horn of Africa. Minister of Foreign Affairs Badr Abdelatty held separate talks with Eritrean Foreign Minister Osman Saleh, Somalian Foreign Minister Abdisalam Abdi Ali, and Massad Boulos, Senior Advisor to the U.S. President on Arab and African Affairs. These quadrilateral consultations are part of ongoing coordination to enhance regional security, support peace efforts, and address security challenges. In their bilateral meetings, the foreign ministers of Egypt and Eritrea affirmed that the security and governance of the Red Sea are the exclusive responsibility of bordering countries, rejecting attempts by non-littoral parties to impose security arrangements or secure maritime access in violation of international law.
A Reuters poll indicates the Egyptian pound is projected to strengthen to LE 49 against the U.S. dollar by the end of June 2027. The survey, conducted between July 7 and 16, also suggests broadly stable expectations for Egypt’s economic growth, with concerns over the Middle East conflict's economic impact easing. Economists forecast Egypt's economy to have grown by 4.8 percent in fiscal year 2025/26, an increase from the 4.6 percent forecast in April. Growth is expected to slow to 4.5 percent in 2026/27 before accelerating to 5.3 percent in 2027/28 and 5.5 percent in 2028/29. Official figures show the economy expanded by 5 percent in the January-March 2026 quarter. The Central Bank of Egypt projected average real GDP growth of about 5 percent for the fiscal year ending June 2026. The improved outlook for the pound, from an earlier forecast of LE 51.5 and a current rate of approximately LE 50.6 per dollar, reflects greater optimism. Dominic Bartos, an associate economist at Moody’s Analytics, noted Egypt's economy remains in an expansionary phase. The poll also highlighted improvements in economic indicators, including a 31.2 percent increase in remittances to $43.1 billion between July 2025 and May 2026, recovering tourism revenues, Suez Canal receipts, and an increase in foreign-exchange reserves to $55 billion by June 2026. The International Monetary Fund reached a staff-level agreement with Egypt in June, potentially providing an additional $1.6 billion in financing. Despi
Must ReadPresident Abdel Fattah El-Sisi has signed Law No. 78 of 2026, officially approving Egypt's economic and social development plan for the fiscal year 2026/2027. The plan aims to increase total resources to LE 31.23 trillion and raise gross domestic product to LE 24.51 trillion at current market prices. The government is targeting a real GDP growth rate of 5.4 percent. Investment expenditure for non-financial assets is set at LE 3.78 trillion, with LE 2.22 trillion allocated to the private and cooperative sectors. Public investments will total LE 1.56 trillion, including LE 553.7 billion in government investments, LE 743.4 billion for economic authorities, and LE 262.9 billion for public-sector companies.