A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering October 30 to November 5.
Egypt and the International Monetary Fund (IMF) have reached a staff-level agreement regarding the disbursal of the fifth $2 billion tranche of the $12 billion loan, according to an IMF press release.
Egypt’s foreign reserves reached $44.501 billion in October, up from $44.459 billion in September, according to figures published by the Central Bank of Egypt.
Egypt’s state budget deficit fell to 1.6% during July and August 2018, down from 1.7% in the same period in 2017, according to Al Ahram.
Egyptian non-oil exports rose 11% year-on-year to $18.5 billion in the first nine months of 2018, up from $16.6 billion, figures from the General Organization for Export and Import Control show.
Business activity in Egypt’s non-oil private sector fell to its lowest level in 2018 in September, according to the latest Emirates NBD Purchasing Managers’ Index.
Egyptian economic growth will reach 5.5% in FY 2018/19 due to gas production from Zohr, increased foreign investment, and improved economic competitiveness, according to a report published by the European Bank for Reconstruction and Development (EBRD).
Egypt’s foreign trade volume rose 13% year-on-year to $67.5 billion in September 2018, up from $59.8 billion in September 2017, Amwal Al Ghad reported.
Egypt has risen eight places in the World Bank’s 2018 Ease of Doing Business report to rank 120th out of 190 countries.
The initial public offering of Misr Insurance and Misr Life Insurance has been delayed until the companies have been restructured, Public Enterprises Minister Hisham Tawfik has said, according to Al Borsa.
SMEs will pay 1% VAT under finance ministry proposals designed to integrate businesses into the formal economy, two sources told Enterprise.