latest updates of operation ‘Al-Aqsa Flood’Egypt’s real GDP growth to record 4.1% in 2024

Occupied Jerusalem, Following are the most important updates of Operation 'Al-Aqsa Flood' launched by the Palestinian resistance: -Palestinian media: 10 martyrs in Israeli aircraft bombing of Khan Yunis City, southern Gaza Strip. -Palestinian resistance targets Israeli occupation forces with a number of mortar shells in al-Maghazi camp, central Gaza Strip. -Palestinian resistance destroys an Israeli occupation troop carrier with an 'al-Yassin 105' shell in al-Maghazi camp, central Gaza Strip -Palestinian media: The number of victims of the massacre committed by the Israeli occupation on Sunday at dawn by bombing a house in Khan Yunis in southern Gaza Strip has risen to 25 martyrs and more than 50 -Palestinian Media: 7 martyrs and a number of wounded in an Israeli bombing of two houses on the northern coast of Rafah City, southern Gaza Strip. -Palestinian Health Ministry: 6 martyrs and a number of wounded in Israeli aircraft bombing of a gathering for the Palestinians in vicinity of al-Shuhada Roundabou t, south of Jenin City, the West Bank -Palestinian media: A number of martyrs and wounded in Israeli aircraft bombing of a house in al-Faluja area, northern Gaza Strip. Source: Syrian Arab News Agency Egypt's real GDP growth is projected at 4.1 percent in 2024 and the US dollar exchange rate to jump to EGP 39.7 through end of the year, BMI Country Risk and Industry Analy. This would put Egypt in second place in the MENA region after Libya in terms of the real GDP growth, according to the report. Moreover, the report expected Egypt's real GDP growth to be the highest among MENA's economies through during 2024-2028. The Egyptian government has revised down its forecasts for the country's real GDP growth during the current fiscal year, which ends in June. The latest revision announced in December puts the figure at 3.5 percent, compared to 4.2 percent projected a month earlier. The decline was mainly due to the consecutive external shocks and disturbances that hit the country's economy, including the geopolitical tensions in the Middle East and the repercussions of the war in Ukraine. Exchange rate The Egyptian market is anticipating a fourth devaluation of the Egyptian pound against the US dollar. The three previous devaluations has caused the local currency to lose over 75 percent of its value since March 2022. The US dollar official rate is currently trading for almost EGP 31 / 1 USD, while the rate in the parallel market exceeds EGP 52 / 1 USD. Inflation For the country's average inflation in 2024, the BMI report lowered its projections to 26.7 percent, down from 27.4 percent it expected a month prior. As per the report's data, Egypt is anticipated to suffer the third highest inflation rate in the MENA region after Lebanon (115 percent), and Iran (36.8 percent). The data also showed that Egypt's inflation to be the highest in the region through 2028. Source: State Information Service Egypt