Monday Minute: Economic Snapshot

Monday Minute: Economic Snapshot

A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.

Covering November 20th to November 26th.

1) Egypt’s GDP expanded by 5.2% in the first quarter of FY 2017/2018, according to the Minister of Planning, Hala El Saeed. (Reuters)

2) The International Money Fund (IMF) will disburse $2 billion of its $12 billion loan to Egypt in December. This will bring the amount the Egypt has received to approximately $6 billion. (Reuters)

3) Egypt’s “grey” economy is worth EGP 1.8 trillion, according to Prime Minister Sherif Ismail. (Ahram Online)

4) The number of tourists visiting Egypt rose 55% Y.o.Y during the first quarter of FY 2017/2018. (Al Mal News)

5) The industrial sector expanded 7% in the first quarter of FY 2017/2018. (Amwal Al Ghad)

6) Yields on Egypt’s long-term bonds rose: five-year bonds rose to an average of 16.006% from 15.762% and ten-year bonds rose to an average of 15.987% from 15.716%. (Ahram Online)

7) The government sold $1.728 billion in one-year bonds at an average yield of 3.496%. (Ahram Online)

8) Egypt offered EGP 13.25 billion in treasury bonds on Sunday. (Amwal Al Ghad)

9) The government raised taxes on tobacco products. The new tax is expected to collect between EGP 7-8 billion. (Ahram Online)

10) After struggling for several years, EgyptAir expects to turn a profit this year. (Reuters)

11) Aton Resources plans to construct a gold mine in the Abu Marawat Concession by the end of 2019. (Aton Resources)

12) France is set to loan the Egyptian government $175 million. (Al Mal News)

13) The Kuwait Fund for Arab Economic Development will invest $57 million in northern Sinai. (Ahram Online)

14) Great Britain will provide $47 million to support young entrepreneurs. (Ahram Online)

15) Egypt National Railways hired a French company to make upgrades on 180 kilometers of the line between Asyut and Nagh Hammadi. (Amwal Al Ghad)

16) The government will add 89 kilometers to the national road system. (Amwal Al Ghad)

Login

Welcome! Login in to your account

Remember me Lost your password?

Lost Password