Monday Minutes: Economic Snapshot

Monday Minutes: Economic Snapshot

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

July 12 to July 25 Coverage:

Egypt launched the second phase of “Decent Life” initiative to develop Egypt’s countryside with total value of EGP 700 billion to support 4,584 villages, Minister of Planning and Economic Development, Hala El Said, announced.

Egypt ranked the fourth in the Economists’ “global normalcy index”, tracking behavioral change due to the Covid-19 pandemic, Minister of International Cooperation, Rania Al-Mashat, stated.

Egypt placed the third in Forbes Middle East’s list of largest economies in the Arab region, expecting to record a total GDP of $394.3 billion in 2021, compared to $361.8 billion in 2020.

As a result of Egypt and the UAE’s efforts,  the amount of electricity generated from solar energy is expected to increase in the MENA region by 300% in 2030, compared to 2020, the Information and Decision Support Center (IDSC) declared.

The Egyptian private sector received development funds worth $1.9 billion from multilateral and bilateral development partners during the H1 2021, the Ministry of International Cooperation noted.

Multilateral and bilateral development partners current portfolio in Egypt includes 377 projects for private and public sectors with funds amounting to $25.6 billion, the Ministry of International Cooperation announced.

Egypt Ventures company pumped direct and indirect investments of EGP 275 million to 174 companies since September 2017, the Ministry of International Cooperation stated.







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