A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering August 28 to September 3.
US credit agency Moody’s has raised its credit outlook for Egyptian debt to positive from stable, according to a company press release.
Egypt and China have signed agreements worth $18.3 billion for a number of projects including the Hamrawein power plant, the Suez Canal Economic Zone and the Attaqa hydroelectric plant, according to the State Information Service.
Egypt exported $1.86 million of non-petroleum products in July 2018, according to Amwal Al Ghad.
The Ministry of Finance is working on a new fiscal strategy to reduce Egypt’s debt levels and improve the country’s budget deficit, Al Ahram reported.
Egypt-EU trade reached a value of $13.4 billion in the first half of 2018, according to Amwal Al Ghad.
Revenues in Egypt’s tourism sector surged 77% year-on-year in the first half of 2018 to around $4.8 billion, Reuters reported.
The Ministry of Finance sold EGP 16.25 billion worth of treasury bills on September 2, according to Al Ahram.
Remittances from Egyptian expatriates increased 21.1% to $26.5 billion in FY 2017/18, according to the Egyptian Central Bank, Reuters reported.