A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering November 28th to December 4th.
President Abdel Fatah Al Sisi has officially launched the new e-Visa service. The online e-Visa system will serve visitors looking to travel to Egypt from any of 43 countries, including the United States, Canada, the UK, France and Cyprus, Ahram Online reported.
Customs exchange rate will remain at EGP16 in December, according to Reuters.
Egypt’s M2 money supply increased by 40.48% Y.o.Y in October, announced the Central Bank of Egypt.
Egypt’s central bank has removed deposit and withdrawal limits of foreign currency for importers of non-essential goods, Reuters
Average yields rose on Egypt’s six-month and one-year treasury bills. The yield on the 182-day bill recorded 19.048%; while the 357-day bill increased to 18.485%, Egypt’s Central Bank announced.
Egypt’s cotton exports fall 38.4% in Q4 of agricultural season, standing at 86,000 qantar (157.7kg), CAPMAS stated.
Egypt has seen the creation of 779 thousand jobs in only the first quarter of financial year 2017/2018, 51% of which were in the field of Agriculture, trade represented 19%, transportation and storage recorded around 11%, as well as the industrial sector at 11%, the Minister of Planning, Hala Al-Saeed, told Amwal Al Ghad.
The Commercial International Bank is to receive a loan from International Finance Corporation (IFC) amounting $100 billion, and will mature in 10 years, Reuters