A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering September 4 to September 10.
Egypt’s foreign reserves increased by more than $100,000 in August to reach $44.42 billion, according to figures published by the Central Bank of Egypt.
Egypt’s debt levels rose by more than $4 billion in the final quarter of fiscal year (FY) 2017/18 to reach $92.64 billion, Prime Minister Mostafa Madbouly told Al Watan.
The Ministry of Finance may place limits on new international borrowing as the government looks to temper rising foreign debt, a ministry source told Enterprise.
Foreign investors sold $400,000 of Egyptian treasuries in July, with holdings falling from $17.5 billion to $17.1 billion, Deputy Minister of Finance Ahmed Kajuk told Reuters.
The Egyptian pound may lose 10% of its value against the dollar by the end of 2020 due to the continuing crisis in emerging markets, according to a report by Capital Economics.
The National Bank of Egypt has signed a $600 million loan deal with the China Development Bank, Reuters reported.
Minister of Investment Sahar Nasr has held discussions with a World Bank delegation regarding a $1 billion loan for developing Sinai province, according to Amwal Al Ghad.
Islamic finance in Egypt is projected to increase to EGP 230 billion by the end of 2018, the head of the Egyptian Islamic Finance Association told Mubasher.