A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering January 22nd to January 29th.
Parliament approves bankruptcy bill, which includes 262 articles, according to El-Borsa.
The New Cairo Capital Company for Urban Development launches the first phase of housing units of the new capital’s residential district this March, according to El-Borsa.
Egypt’s non-petroleum imports decline by 14% in 2017, reaching $56.8 billion, compared to $66.3 billion during the same period in 2016, according to El-Borsa.
Egypt signed an agreement to receive the third and last tranche, worth $500 million, of a $1.5 billion loan package from the African Development Bank (AFDB) to finance Egypt’s Economic Governance and Energy Support Program, according to Egypt Today.
Egypt’s non-petroleum exports to the U.S. increased by 17.5%, while exports to Russia increased 32.8% Y.o.Y during the first 11 months of 2017, Ministry of Industry and Foreign Trade announced, according to Egypt Today.
Central Bank of Egypt issues EGP 2.2 billions in treasury to finance budget deficit, according to Amwal El-Ghad.
The IMF expects growth for Egypt’s GDP by end of FY 2017/2018 to 4.8% from 4.5%, citing a recovery in consumption and private investment, according to Ahram Online.
Tax revenues increased by 62% Y.o.Y to EGP 249 billion in the first half of FY 2017/2018, Vice Minister of Finance Amr El-Mounayer said, according to Ahram Online.
Ministry of Investment and International Cooperation partners with Ministry of Local Development to launch an investment project in Al-Dabaa worth EGP 10 billion, according to El-Shorouk.
Minister of Transportation Hisham Arafat, announced an imminent increase in railway tickets prices by end of FY 2017/2018 in June, according to El-Shorouk.