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Economy and cost of living the main reasons Cypriots voted in this years European elections

by THEFUTURE.TEAM

October 4, 2024

The economic situation and rising prices and cost of living were the main topics that motivated Cypriots to vote in the last European elections in June this year, according to a post-electoral survey published by the European Parliament.

These were also the two main reasons for voting on the EU level (42% for cost of living and 41% for the economic situation), but the shares were much larger in Cyprus where the economic situation led with 56%, followed by rising prices and cost of life with 47%.

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The third most popular reason in Cyprus was migration and asylum (45%, compared to 38% and sixth place in the EU average), followed by education in fourth place (26%, compared to 13% in the EU) and democracy and rule of law in fifth place (24%, compared to 32% and fourth place in the EU).

The international situation was in sixth place for Cypriots tied with the defence and security of the EU (21%), while on average in the EU the global situation was picked in third place with 34% and defence and security in seventh place with 28%.

Those who did not vote in Cyprus said the cost of living (53%), migration and asylum (45%) and the economic situation (42%) could have motivated them to participate in the elections.

The European Parliament post-electoral survey across the EU was conducted between June 13th and July 8th 2024, with a total of 26,349 face-to-face interviews. In Cyprus, the survey was conducted from June 13th to July 5th, and a total of 506 face-to-face interviews.

Egypt’s Suez Canal Economic Zone Draws $8.1B In Investments Through 255 Projects

by THEFUTURE.TEAM

February 4, 2025

Egypt’s Suez Canal Economic Zone (SCZone) has secured an impressive $8.1 billion in investments across 255 projects in the last 30 months, according to an official announcement on Monday.

Major Investment Boost For SCZone

The General Authority for the SCZone has successfully attracted 251 projects in its industrial zones and ports, accumulating $6.2 billion in capital investments, which has resulted in around 28,000 new jobs, as stated by SCZone Chairman Walid Gamal El-Din.

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Additionally, four new projects have brought in $1.8 billion in investments, boosting the total capital inflows within the zone. These developments were discussed in a meeting with Mohamed Zaki El Sewedy, Chairman of the Federation of Egyptian Industries (FEI), and other officials from various chambers of commerce.

Strengthening Industrial Ties And Opportunities

The meeting focused on expanding investment prospects, fostering collaboration, and addressing challenges faced by industrial firms with strong export potential. A key objective was to encourage businesses to scale up their operations within the SCZone, leveraging its prime location, advanced infrastructure, and investor-friendly policies.

El-Din stressed the importance of the SCZone in driving Egypt’s economic growth and industrial transformation, citing the Ain Sokhna Integrated Industrial Zone as a flagship example of development. This zone is a testament to Egypt’s growing presence as a competitive global manufacturing hub.

The continued partnership between the SCZone and the private sector, El-Din noted, plays a pivotal role in building a strong ‘Made in Egypt’ brand, supporting local industrial development, and boosting innovation to improve Egypt’s position in global markets.

Acknowledging Achievements And Future Collaboration

El Sewedy praised the SCZone for its efforts in creating a robust investment climate, offering comprehensive services, incentives, and cutting-edge infrastructure. This meeting marked the beginning of a deeper collaboration between the SCZone and FEI, setting the stage for future joint initiatives.

Egypt’s Economic Outlook

Egypt’s economy is projected to grow by 4% in the year leading up to June, bolstered by supportive measures from the IMF, according to a Reuters poll conducted in January 2025. The poll also forecasts a GDP growth acceleration to 4.7% in 2025-26 and 5% in 2026-27.

However, the country’s GDP growth slowed to 2.4% in 2023-24, down from 3.8% in the previous year, primarily due to the ongoing currency crisis and the geopolitical impact of the war in neighboring Gaza, according to the Central Bank of Egypt.