A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering May 29th to June 4th.
The Egyptian parliament reviewed on Sunday a draft plan to gradually increase GDP from 5.8% during 2018-19 to 8% in 2021-22, The Egyptian Gazette reported.
Foreign investment inflows fell year-on-year (YOY) to $3.48 billion in Q2 2018, down from $3.98 billion in the same period in 2017, according to figures published by the Central Bank of Egypt.
The IMF’s mission chief for Egypt Subir Lall has said that Egypt’s “strong” reserves increase the resilience of its economy, Amwal Al Ghad reports.
The Ministry of Trade has revealed that Egyptian non-oil exports rose by 16% YOY in Q1 2018 compared to the same period in 2017, according to Al Mal.
Issuances of industrial licenses have increased x25 since the government passed the Industrial Permits Act, head of the Industrial Development Authority, Ahmed Abdel Razek, told Bloomberg.
The government may increase the income tax exemption threshold in the 2018/19 financial year, Al Shorouk reported.
Egyptian and Russian officials have signed a final agreement to establish a Russian industrial zone in the Suez Canal region, according to Al Ahram.
The government will develop a strategy over the next month for integrating informal businesses into the formal economy, Al Mal reported.
The National Bank of Egypt has signed a $750 million financing deal with an international banking consortium, Amwal Al Ghad reports.
The Central Bank of Egypt issued EGP 2.75 billion worth of treasury bonds on Monday, Mubasher reported.