aimodel

CAIRO, April 26 (Reuters) - Analysts have shaved their forecasts for Egyptian economic growth in a Reuters poll for this year and next as the Iran war drives up energy prices and puts ​pressure on inflation.
Gross domestic product growth will be 4.6% in the year to June, 4.6% next year ‌and 5.5% in 2027/28, according to the median estimate of 12 economists surveyed April 8-23.
In a January poll, before the war broke out, economists had predicted growth of 4.9%, thinking reforms taken under an International Monetary Fund (IMF) programme two years earlier were bearing fruit faster than
We ​expect energy prices to remain high in the coming quarters, even after the normalisation of flows through ​the Strait of Hormuz. It will fuel inflationary pressure in Egypt," said Pascal Devaux of BNP ⁠Paribas
In this context, we expect a slowdown in activity in Egypt, but not a sharp drop."
Growth slumped to 2.4% ​in 2023/24 but rebounded after March 2024 when Egypt sharply devalued its currency and raised interest rates as part of ​an $8 billion IMF financial support package.
The central bank, citing the Iran war, this month revised down its year-on-year GDP growth forecast for fiscal 2025/26 to 4.9% from the 5.1% it had predicted in February.
Last week the IMF likewise chopped its projected growth to 4.2% in calendar 2026 from ​an earlier estimate of 4.7%.
In addition to raising energy prices, the war could also hurt tourism in Egypt, slow the ​flow of remittances from Egyptians working in the Gulf and reduce tolls from ships passing through the Suez Canal
The poll forecast inflation ‌would average ⁠13.5% in 2025/26, 12.00% in 2026/27 and 9.0% in 2027/28. Economists had put inflation at 11.6%, 9.1% and 8.2% in the last poll.
Egypt's annual urban consumer inflation increased to a faster-than-expected ​15.2% in March from 13.4% ​in February, according to the ⁠state statistics agency CAPMAS.
The Iran conflict is seen pushing the central bank to slow an easing cycle of its overnight interest rates begun a year ago.
Analysts forecast the lending rate ​to still be 20.00% by end-June, then slip to 17.0% by end-June next year ​and 13.25% end-June ⁠2028. Analysts in the January survey had expected a 200 basis point cut by January and another 500-point cut by June 2027.
The central bank cut its benchmark rate five times in 2025 and yet once again in February for a cumulative drop ⁠of 825 ​basis points.
Contributors expected the Egyptian pound to inch weaker to 51.58 to ​the U.S. dollar by end-June 2026 from its current 51.06 pounds. It is expected to be 51.50 by end-June 2027 and 51.85 at the end ​of June 2028.
#ZeusInCrypto
#AImodel
#quickfarm
#ETHETFS
#CryptoPatience

#TetherFreezes$344MUSDTatUSLawEnforcementRequest #AImodel #TrendingTopic #JustinSunSuesWorldLibertyFinancial #BTC $BTC
---
AI’s Dual Impact on U.S. Jobs: Slower Payroll Growth and a Shift Toward Experienced Workers
New York – A new analysis from Goldman Sachs economist Elsie Peng reveals a nuanced picture of artificial intelligence’s effect on the American labor market: while AI is weighing on overall job growth, it is also quietly creating new roles in unexpected sectors.
According to Peng’s findings, AI has reduced monthly payroll growth by approximately 16,000 jobs over the past year. Data from NS3.AI further indicates that this technological shift has contributed to a 0.1 percentage point rise in the U.S. unemployment rate.
However, the story is not one of simple decline. Peng notes that AI has generated around 9,000 new jobs per month in fields with high “augmentation potential”—where the technology assists rather than replaces workers. These sectors include education, legal judgment and compliance, and construction management.
The negative employment effects have not been evenly distributed. Peng highlights that younger, less experienced workers in entry-level white-collar positions have borne the brunt of AI’s disruptive impact. Routine tasks once performed by junior analysts, paralegals, and administrative staff are increasingly automated, while older, more seasoned professionals remain better positioned to oversee or collaborate with AI tools.
The findings suggest a labor market in transition, where AI acts as both a headwind and a tailwind. While monthly job creation remains positive overall, the structural shift may require renewed focus on retraining programs and career pathways for early-career employees navigating an increasingly automated workplace.

An attempted hit on OpenAI's head honcho Sam Altman with a Molotov cocktail, 13 shots fired at the home of a city council member in Indianapolis who voted for the construction of a data center—this wave of discontent with artificial intelligence (AI) in the US is increasingly spilling over into violence.
Two attacks on Altman's home in San Francisco mark the first high-profile acts of anti-tech terrorism in America since the capture of the Unabomber. The perpetrator of the first attack—a Texas resident who operated online under the alias "Battlearian Jihadist" referencing the anti-machine crusade from Frank Herbert's "Dune". After the arson, he headed to OpenAI's headquarters, threatening to burn the building down and kill everyone inside—he was armed with a canister of kerosene and a list of names and addresses of other AI company executives.