A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
July 6 Coverage to July 12:
IHS Markit Egypt Purchasing Managers’ Index (PMI) increased to 49.9 in June, up from 48.6 recorded in May, according to a statement.
Egypt’s Net International Reserves (NIR) posted $40.584 billion at the end of June, according to the Central Bank of Egypt (CBE).
Egypt’s annual headline inflation rate recorded 4.9% in June compared to 4.8 % in May, according to the CBE.
Industrial production, excluding oil extraction and refining, inched up by 8.7% in the Q1 of 2020 to reach EGP 183.1 billion in Q1 2020 compared to the same quarter of 2019, the Central Agency for Public Mobilization and Statistics (CAPMAS) stated.
Food stuff production increased by 2.4% in Q1 of 2020, compared to Q1 of 2019, to record EGP 39.2 billion, according to CAPMAS.
Production of iron, steel, and precious metals reached EGP 30.4 billion in Q1 of 2020, showing an increase of 6.4% from Q1 of 2019, according to CAPMAS.
Egypt’s Growth Domestic Product (GDP) is estimated to reach EGP 6.4 trillion in FY2020/2021, and EGP 7.1 trillion in FY2021/2022, according to the Cabinet.
Egypt targets increasing public investments in FY2021/2022 to reach EGP 933 billion compared to estimated public investments of EGP 637 billion in FY2020/2021, according to the Cabinet.
Egypt’s overall deficit decreased to reach 7.8% of the GDP in FY2020/2021, compared to 8% and 8.1% in FY2019/2020 and 2018/2019, respectively, according to the Cabinet.