A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering November 13th to November 19th.
1) The CIB left Egypt’s interest rates unchanged last week. (Al Mal News)
2) Egypt’s GDP expanded by 5% in the last quarter of FY 2016/2017, according to the CBE. (Amwal Al Ghad)
3) Unemployment was at 11.9% during the third quarter of 2017, according to CAPMAS. In the second quarter, CAPMAS recorded an employment rate of 11.98%. (Al Mal News)
4) Average yields on three-year treasury bonds rose to 15.874% last week, up from 15.578%. Yields on seven-year bonds also increased, rising from 15.600% to 15.955%. (Ahram Online)
5) $80 billion have entered Egypt’s banking system since the floatation of the EGP, according to the CBE. (Ahram Online)
6) Deposits in Egypt rose to EGP 3.124 trillion in August, up from EGP 3.071 in July. (Al Mal News)
7) The EBRD is loaning $305 million to seven banks to support small- and medium-sized businesses. (Al Mal News)
8) Egypt’s exports to the Gulf Arab states rose to $3.5 billion during the first eight months of the year, up from $3.4 billion during the same period in 2016. (Amwal Al Ghad)
9) Egypt is the world’s top date producer, according to the UN Food and Agriculture Organization. The country produces an estimated 1.5 million tons, approximately 17.7% of world supply. (Amwal Al Ghad)
10) Kuwait lifted its ban on Egyptian agriculture products. (KUNA)
11) A court ruling reinstated an import ban on wheat containing ergot. (Ahram Online)
12) The Ministry of Agriculture released a new directive regarding the importation and sale of wheat. (Al Mal News)
13) Strawberry farmers have raised objections to a new licensing requirement for exporting strawberries. (Al Mal News)