Russian tourists and companies will be allowed to pay through the Russian Mir system in Egypt ahead of the winter season, which Cairo is hoping will boost its tourism sector.
Egypt is struggling with a quickly rising import bill and soaring inflation, but increased regional stability and rising income from gas exports could keep the country from drowning in debt
Egypt faces growing balance-of-payments risk as US monetary policy tightens, as the cost of food and other imports rises, a double-shock impacting multiple low- and middle-income economies.
Egyptian Prime Minister Mostafa Madbouli has announced a series of planned privatizations of state-owned companies, as the country struggles with an economic crisis and inflation at almost 15% in April.