A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering October 23 to October 29.
IPOs of Egyptian state-owned companies planned for Q2 2018/19 have been delayed until 2019, an investment banker told Reuters.
Egyptian gross domestic product will rise to 5.8% in FY 2018/19 and 6% in FY 2019/20, Sahar El Damati, managing director of Union Capital, has predicted, Amwal Al Ghad reported.
The Ministry of Finance is considering an EGP-denominated bond issuance on the international market in order to increase foreign inflows and reduce the government’s borrowing costs, sources told Bloomberg.
Egypt’s trade volume reached $67.63 billion in the first nine months of 2018, up from $59.82 billion in the same period last year, Al Ahram reported.
Egypt will unveil amendments to the mining law that aim to make the sector more attractive to investors, Minister of Petroleum Tarek El Molla has said, according to Reuters.
The Ministry of Planning will finish drafting the basic regulations governing Egypt’s sovereign wealth fund in November, Minister of Planning Hala El Saeed told Amwal Al Ghad.
The government is considering a stamp tax increase on activities in the real estate, mining and insurance sectors, sources in the Ministry of Finance told Enterprise.
Egypt has set an external borrowing limit of $16.733 billion for FY 2018/19, according to a government document seen by Reuters.
Draft SME legislation that aims to bring small enterprises within the formal economy is expected to be revealed in November, according to Al Mal.