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

August 22 Coverage to August 29:

The Egyptian government targets investments of EGP 43 billion for the electricity sector in FY 2022/21’s plan, Ministry of Planning and Economic Development (MPED) announced.

Egypt’s exports to France increased to EUR  350 million in H1 2021, compared to EUR 288 million at the same period in the previous year, the Minister of Trade and Industry, Nevine Gamea stated.

The Egyptian social development sector aims to decrease the poverty rates to 28.5% and to reduce unemployment rates to 7.3% during FY 2021/22, MPED noted.

Egypt intends to increase non-petroleum products exports by 10% to reach $19.5 billion, MPED said.

The cooperation portfolio between Egypt and the Netherland reached EUR 348 million invested in sectors of agriculture, irrigation, industry and health, since 1975, Ministry of International Cooperation (MOIC)  revealed.

The number of foreigners working in the Egyptian private sector reached 11,404 in 2020 compared to 14,950 in 2019, decreasing by 23.7% due to the spread of Covid-19 pandemic, Central Agency for Public Mobilization and Statistics (CAPMAS) said.

The number of foreigners working for the first time in Egypt amounted to 4,202, while the foreigners who renewed their working contracts reached 7,202 in 2020, CAPMAS remarked.