A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering February 27th to March 5th.
Egypt’s foreign reserves reached another record high of $42.52 billion at the end of January 2018, recording a $4.3 billion M.o.M increase, according to Reuters.
Egypt and Saudi Arabia have agreed to set up a $10 billion joint investment fund, part of which will be used to develop the Egyptian side of the planned NEOM megacity, Reuters has reported.
Average bond yields on Egyptian 10-year treasuries increased by almost 100 basis points to 14.8% on Monday 5th March, Al-Ahram reported.
The Egyptian government is considering creating a sovereign wealth fund to manage state-owned companies before they are listed on the stock exchange, Al-Ahram has reported.
The current Egyptian customs exchange rate will remain at EGP 16 per $1 until the end of March 2018, according to Al-Ahram.
A report published by the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that the Egyptian trade deficit increased 13.8% Y.o.Y in December 2017, according to Al-Mal.
The Ministry of Investments and International Cooperation aims to attract annual foreign investments totaling EGP 782 by 2022, Al-Mal has reported.
Ezdehar Egypt investment fund intends to invest $80 million in Egypt’s industrial sector, non-banking financial service and consumer sectors, according to Al-Borsa.