A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering September 11 to September 17.
Egypt has introduced new import tariffs on consumer products in an attempt to limit the use of the dollar, according to a Ministry of Finance press release.
The annual headline rate of inflation rose to 14.2% in August 2018, up from 13.5% in July, according to official figures released by the Central Bank of Egypt.
The Egyptian Exchange suffered its biggest daily loss since January 2017 on September 16, falling 3.6% during the day’s trading, Bloomberg reported.
Egypt’s trade balance hit $3.62 billion in June, a 44% year-on-year increase from June 2017, Mubasher reported.
Egypt is Africa’s most attractive economy for foreign investment, according to a survey by Biznews, Al Ahram reported.
Egypt exported $14.89 billion worth of non-oil products in the first seven months of 2018, a 14.3% year-on-year increase, according to Mubasher.
Egypt will spend EGP 5.4 billion on the completion of 315 national projects that have stalled in recent years, Al Ahram reported planning minister Hala El-Saeed as saying.
The cabinet has announced that it is hiring a chief executive to manage the country’s sovereign wealth fund, Al Mal reported.