A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering January 9th to January 15th.
Egypt’s Parliament approved a new cabinet reshuffle including 4 ministers: Abu Bakr Elgendy as the Minister of Local Development; Inas Abdeldayem as the Minister of Culture; Rania El Mashat as the Minister of Tourism; and Khaled El Badawy as a Minister of Public Business, according to Ahram Online.
The core inflation rate in December declined by 4.4% to 22.3% compared to 26.7% last November, according to Ahram Online.
The total remittances for Egyptians working abroad during November 2017 increased by 5.8% to reach about 2.2 billion dollars against about 2.1 billion dollars, according to Elborsa news.
Egypt’s tourism revenues jumped 123.5% Y.o.Y to $7.6 billion in 2017, a government official told Reuters on condition of anonymity.
Exports of agricultural crops in terms of quantities increased by 11% to reach 4.813 million tons in 2017 compared to 4.343 million tons during the previous year, according to Elborsa news.
The yield on 182-day and 357-day Treasury bills fell by 0.534% and 0.632%, respectively, reported Elborsa news.
Egypt’s imports from January to September 2017 dropped to $47.1 billion, from $52.4 billion during the same period in 2016, according to Egypt Today.
Egypt’s trade deficit dropped 15.4% in October 2017 to reach $3.22 billion, compared to $3.79 billion in the same month last year, Egypt Today cited a CAPMAS report.
The Minister of Trade and Industry, Tarek Qabeel, announced forming a draft law to develop micro, small- and medium-sized enterprises (SMEs), according to Egypt Today.
The Egyptian parliament gave preliminary approval on a law regulating debt restructuring, preventive composition and bankruptcy, according to Ahram Online.
The Central Bank has opened an account to collect the value of fractions of checks or bank transfers, after clients approval and direct them to finance some developmental and charitable projects, Elborsa news reports.