A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering October 9 to October 15.
Headline inflation continued to rise in September, increasing to 16% from 14.2% in August, according to figures published by the Central Bank of Egypt (CBE).
Egypt’s gross domestic product will rise to 5.3% in 2018 and 5.5% in 2019, according to new IMF projections.
The Egyptian Exchange finished deep in the red on Thursday 11 October, falling 5.82% to its lowest level in more than a year, Al Ahram reported.
The CBE has reached a $3.8 billion financing agreement with a consortium of international banks, according to an official statement.
Holdings of Egyptian treasuries by foreign investors fell to $14 billion at the end of September, from $17.5 billion at the end of June, Reuters reported.
Egypt has received “very positive” responses from investors in South Korea following a roadshow designed to promote investment in Egyptian bonds, Minister of Finance Mohamed Maait told Reuters.
Moody’s has upgraded its outlook for Egypt’s banking system to positive, citing economic growth, increasing profits, and the government’s increasing credit profile, according to an announcement by the rating agency.
Egypt will only accept Chinese investments in the country for mutually beneficial projects, Minister of Investment Sahar Nasr has said, according to Reuters.
Egypt’s trade exchange with France reached $1.459 billion in August, $460 million of which were exports and $999 million were imports, according to trade minister Amr Nassar, Amwal Al Ghad reported.
Egypt has signed a $300 million deal with the World Bank to upgrade infrastructure in rural areas of the country, according to Al Ahram.