A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering April 10th to April 16th .
The annual headline rate of inflation fell from 14.4% to 13.3% between February and March 2018, figures published by the Central Bank of Egypt show.
The Egyptian government’s total expenditure on subsidies will fall 3.8% year-on-year to EGP 213.76 billion in fiscal year 2018/19, according to figures leaked on social media by House of Representative Budget Committee member MP Heytham El Hariri, Enterprise reports.
The Egyptian unemployment rate fell by 2.3% over the past three years, Finance Minister Amr El Garhi has announced, according to Amwal Al Ghad.
The Ministry of Finance’s pre-budget report predicts an average headline inflation rate of 13.2% during the 2018/19 financial year.
The Egyptian government is hoping to attract EGP 942 billion in foreign investment during the 2018/19 financial year, Planning Minister Hala El Said has said, Amwal Al Ghad reports.
Draft legislation that would authorise the creation of a EGP 200 billion sovereign wealth fund has been approved by the Egyptian government, Al Mal has reported.
The House Constitutional and Legislative Committee has discussed amendments that would give the Egyptian Competition Authority regulatory powers over mergers and acquisitions, Ahram Gate has reported.
The Egyptian government has successfully sold $2.47 billion in 8-year and 12-year euro-denominated bonds to international investors, Al Mal reports.
The World Bank is to provide a $500 million loan to support Egypt’s five-year public schools reform programme, Amwal Al Ghad reports.
Suez Canal revenues are expected to reach EGP 72 billion during the 2018/19 financial year, Finance Minister Amr El Garhi told Al Mal.