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 9th Coverage to August 16th

The Central Bank of Egypt (CBE) announced that the annual headline inflation rate recorded 5.4% in July 2021 compared to 4.9% in June 2021.

Suez Canal achieved growth in revenues estimated at $6 billion during FY 2020/21, Ministry of Planning and Economic Development (MPED) noted.

The government targets increasing remittances to $30 billion in FY 2021/22, MPED  mentioned.

Egypt signed a development financing agreement with Austria worth EUR 8.5 million to purchase machinery and equipment for railways development, the Ministry of International Cooperation (MOIC) stated.

Egypt’s education and scientific research sector received development financing worth $2.36 billion from 15 multilateral and bilateral development partners to implement 36 projects, MOIC announced.

Egypt signed 12 development agreements with Germany worth EUR 197 million during H1 2021, MOIC stated.

MOIC  allocated 23.2% of development financing it secured to implement 34 projects worth $5.95 billion to meet the UN’s seventh sustainable development goal regarding the clean energy.




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