A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering February 19th to February 26th.
Minister of Trade and Industry, Tarek Qabil, announced the trade volume between Egypt and the United States reached $ 5.6 billion in 2017, rising 13%, from $ 4.9 billion, according to Amwal El-Ghad.
Minister of Planning and Administrative Reform, Hala El-Saed, announced the inflation declined in January, reaching 17%, down from 22.3% in December 2017, according to Amwal El-Ghad.
Moody’s deem the amendments passed by Egypt’s parliament to the Capital Markets Law are credit positive for banks, according to Ahram Online.
GDP rate reached 5.3% in Q2 of FY 2017/2018, announced Minister of Planning and Administrative Reform, Hala El-Saed, rising from 5.2% in Q1 of FY 2017/2018, according to Shorouk News.
CAPMAS announced Egypt’s cotton exports declined by 7.4% Y.o.Y, according to Al-Mal news.
The Industrial Development Authority (IDA) will start offering industrial permits and records electronically through its branches by mid March, according to Egypt Today.
Egypt’s Trade Deficit declined by 15.7 % Y.o.Y during the first half of FY 2017/2018, dropping from $21.7 billion to $18.3 billion, announced Minister of Planning and Administrative Reform, Hala El-Saed, according to Egypt Today.