A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering July 10 to July 16.
The annual headline rate of inflation increased to 14.4% in June 2018, up from 11.4% in May, according to the Central Bank of Egypt (CBE).
The Egyptian government will submit a request at the World Bank for a $2 billion loan, an official told Enterprise.
Egyptian sovereign debt held by foreign investors has fallen below $19 billion, Finance Minister Mohamed Maait has said, according to Amwal Al Ghad.
Egypt’s current account deficit will fall to 2.6% of GDP in fiscal year (FY) 2018/19, Xinhua reported.
Egypt was the third largest African market for “corporate transactions” during the first six months of 2018, Mubasher reports.
The House Economic Committee will recommend that the private sector undertake three-quarters of national projects, MP Amr El Gohary told Enterprise.
Yields on three and nine month Egyptian government bonds have fallen for the first time in weeks, Reuters reported.
The number of foreigners working in Egypt’s private sector fell 4.1% year-on-year in 2017 to 13,469, according to official figures, Al Ahram reported.
Remittances from Egyptians living abroad increased by 48.2% to $26 billion in the first 10 months of FY 2017/18, according to CBE data, Al Ahram reported.
Egypt’s imports from Russia increased by more than a quarter (28.9%) to $1.6 billion in the first four months of 2018, Amwal Al Ghad reports.