A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering May 15th to May 21st.
The IMF has reached a staff-level agreement to disburse the third £2 billion tranche of Egypt’s $12 billion loan, according to an IMF statement.
The unemployment rate fell from 11.3% to 10.6% between Q1 2017 and Q1 2018, according to CAPMAS figures.
GDP growth reached 5.4% in Q3 2017/18, President Abdel Fattah El Sisi announced during the national youth conference, Al Borsa has reported.
President Sisi has promised a five-year tax holiday for businesses joining the formal economy, according to Al Mal.
The Central Bank of Egypt (CBE) has decided to leave interest rates unchanged, according to an official statement.
US credit rating agency Moody’s has highlighted Egyptian debt as being among the most risky in the emerging markets, Enterprise has reported.
Up to 107,000 businesses may be given debt relief for interest payments, charges and costs incurred from lawsuits, CBE Governor Tarek Amer told Al Mal.
The government aims to raise $1 billion when it lists four to six public companies during the first round of privatization between June 2018 and early 2019, the cabinet said in statement.
The Ministry of Electricity and Renewable Energy is owed EGP 29 billion by various government bodies and public sector companies, a ministry official told Al Mal.
The Egyptian Exchange (EGX) has extended its run of consecutive weekly losses to three, after closing at -1.62% on May 17, Mubasher reported.