A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering March 13th and March 19th.
The newly-approved state budget aims to increase GDP from 5.2% to 5.8% in FY 2018/19, according to a press statement issued by the Egyptian cabinet.
The Egyptian Ministry of Finance has announced the names of 23 state-owned companies that will be listed on the Egyptian Stock Exchange, according to Al-Mal.
Egypt and the United Nations have agreed terms of a $1.2 billion Partnership Development Framework Agreement that will help the country develop its economy, according to Al-Ahram.
Egyptian President Abdel Fattah El Sisi has traveled to Port Said to inspect the progress of several major projects including the construction of the industrial zone and a sea port, Amwal al-Ghad has reported.
Subir Lall, the IMF’s mission chief in Egypt, has signaled optimism in the country’s ability to attract new investment, according to Amwal al-Ghad.
Egyptian and Emirati officials have agreed to increase cooperation in fields such as trade, industry and investment, Al-Mal reports.
The chairman of Al Oula Mortgage Finance Company has predicted the real estate sector will attract the most investments in Egypt during the upcoming period, according to Amwal al-Ghad.
The Egyptian Ministry of Investment has signed four agreements worth $265.5 million with the Kuwait Fund for Arab Economic Development that will help finance development projects in the Sinai, according to Al-Mal.
Rising food prices drove the 0.3% increase in the monthly headline rate of inflation in February 2018, the Central Bank of Egypt has said.
Travel agencies are expecting an increase in the number of tourists visiting Egypt in 2018, industry sources announced during an international travel conference, Al-Ahram reported.