A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering July 31 to August 6.
Egypt’s foreign reserves increased to $44.314 billion in July 2018, up from $44.258 in June, official figures published by the Central Bank of Egypt showed.
IMF Representative for Egypt, Reza Bakir, said that the Egyptian economy will outperform the rest of North Africa at an African economic caucus at Sharm El Sheikh, Al Shorouk reported.
Egyptian exports increased by 14% year-on-year to reach $44.83 billion in the first half of 2018, compared to the same period in 2017, Amwal Al Ghad reported.
The government’s total debt service increased to EGP 406.2 billion in FY 2017/18, up from EGP 370.7 billion in the previous year, according to Central Agency for Public Mobilization and Statistics (CAPMAS) figures, Al Ahram reported.
Egypt will repay $6.3 billion of its foreign debts in the second half of 2018, according to Al Mal.
The Investor Protection Fund has agreed to cut fees paid by investors by 50%. (Al Ahram)
The government will not issue bonds denominated in foreign currency for another two months, Finance Minister Mohamed Maait told Enterprise.
The Egyptian and Chinese governments have signed a EGP 179 billion agreement to develop projects in Egypt’s new administrative capital, according to Al Ahram.