A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering October 2 to October 8.
Egyptian GDP growth will accelerate to 5.6% in 2019 from 5.2% in 2018, according to new projections by the International Institute of Finance.
Foreign direct investment in Egypt’s non-oil private sector fell to $600 million in Q2 2018 from $956 million in Q1, according to Reuters calculations based on figures released by the Central Bank of Egypt.
The ongoing surge in global oil prices may push Egypt’s expenditure on fuel subsidies to EGP 100 billion in fiscal year 2018/19, according to Amwal Al Ghad.
PMI for Egypt’s non-oil private sector fell from 50.5 to 48.7 in September, indicating a decline in new orders and falling export sales, according to Emirates NBD.
The Egyptian Pound will remain stable heading into year-end, Credit Suisse’s head of Middle East research Fahd Iqbal has told Bloomberg.
The Ministry of Finance has begun a promotional tour in Asia in a bid to attract investors ahead of the government’s $5 billion Eurobond offer, according to an official statement.
Minister of Trade Amr Nassar revealed the government’s plan to stimulate domestic industry and improve the competitiveness of local goods in a statement.
Non-oil trade increased 11.8% year-on-year to $59.68 billion in the first eight months of 2018, according to Al Mal.