A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering May 1st to May 6th.
IMF First Deputy Managing Director David Lipton has told an Egypt-IMF conference that the government must “broaden and deepen the reform agenda” if it is to achieve sustained economic growth, according to an IMF transcript.
Net foreign reserves increased to $44 billion in April 2018, up from $42.6 billion in March 2018, according to the Central Bank of Egypt.
Egyptian gross domestic product (GDP) will rise to 5.2% in 2018 and 5.5% in 2019, according to new IMF growth projections.
The Ministry of Finance is hoping to reduce the budget deficit from 108% to 80% of GDP by 2020, Al Ahram reports.
The Central Bank of Egypt is likely to lower interest rates to 13.25% by the end of 2018, according to Amwal Al Ghad.
The government has not yet decided on a schedule for the planned state privatization program, Vice Minister of Finance, Ahmed Kouchouk, told Enterprise.
Foreign direct investment will increase by 20-25% during the 2018/19 financial year, Finance Minister, Amr El Garhy, told Bloomberg TV.
Egyptian export orders increased for the fourth month in a row in April 2018, data published by Emirates NBD has revealed.
The Egyptian government is expecting annual industrial growth of 8% under its Egypt 2030 strategy, Trade Minister, Tarek Kabil, has said, according to Egypt Today.
The Central Bank of Egypt has said the country will offer $1.1 billion of 1-year treasury bonds to investors on May 7, according to Reuters.