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.

August 3rd Coverage to August 9th

The Central Bank of Egypt (CBE) decides to keep the overnight deposit rate, the overnight lending rate, the main operation rate and the discount rate unchanged at 8.25%, 9.25%, 8.75%, and 8.75% respectively.

Egypt’s purchasing managers’ index (PMI) fell from 49.9 in June to 49.1 in July; despite the rise in employment rate and the businesses eagerness to boost capacity, released by IHS Markit.

Egypt’s exports jumped by 80.2%, reaching $3.11 billion in May 2021 compared to $1.72 billion in May 2020, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt increased allocations for health sector to EGP 275.6 billion and education sector to EGP 388.2 billion in FY 2021/22 budget plan, Ministry of Finance announced.

Egypt’s agricultural exports have exceeded 4.3 million tons since January 2021, recording 750,000 tons higher than exports during the same period of 2020, according to the Cabinet.

The state directs EGP 73.8 billion investments towards the agricultural sector in FY 2021/22 budget plan, the Ministry of Planning and Economic Development (MPED) announced.

Egypt signs a $19 million agreement with Japan for establishing outpatient clinics in Abu EL-Rish children’s hospital, the Ministry of International Cooperation (MOIC) stated.

Japan’s current financing portfolio with Egypt reaches $3 billion to implement 14 projects in various sectors, according to MOIC.

MOIC declared that 18 development partners directed $1.4 billion in 32 projects to develop the health sector and achieve the third sustainable development goal (SDG3) regarding well-being and ensure healthy lives promotion.

Sarah Samir 2752 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password