A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
September 6 Coverage to September 12:
The Central Bank of Egypt (CBE) announced that the net international reserves (NIR) reached $40.672 billion at the end of August 2021, from &$40.609 billion at the end of July 2021.
The CBE stated that the annual headline inflation recorded 5.7% in August 2021 compared to 5.4% in July 2021.
The transportation sector targets total investments of EGP 244.7 billion in the planned budget of the fiscal year (FY) 2021/22, Hala Al-Said, the Minister of Planning and Economic Development, said.
The trade exchange volume between Egypt and Oman reached $500 million, Nevine Gamea, the Minister of Trade and Industry, disclosed.
Oman’s current investments in Egypt reached $77.5 million through 92 companies, Nevine Gamea, the Minister of Trade and Industry noted.
The trade exchange volume between Egypt and South Korea reached $1.51 billion during H1 2021 compared to $795.6 million during the same period in 2020, the Ministry of Trade and Industry (MTI) reported.
The Egyptian exports to South Korea jumped by 11.3% to $247 million during H1 2021, compared to $222 million during H1 2020, MTI said.
The Korean Investments in Egypt reached $570 million through 181 projects in various fields, MTI stated.
The current cooperation portfolio of Islamic Development Bank (IsDB) with Egypt exceeds $13 billion, Hala Al-Said, the Minister of Planning and Economic Development, announced.
IsDB has 345 projects in Egypt, including 290 completed projects, Hala Al-Said, the Minister of Planning and Economic Development, declared.
Egypt and UAE are establishing a new joint strategic platform of $20 billion to establish strategic joint ventures, specialized funds or investment instruments, Ministry of Planning and Economic Development (MPED) cited.
Most of sustainable development goals (SDGs) have access to development finance including $5.9 billion for the energy sector, $5.7 billion for funding sectors of industry, innovation and infrastructure, Rania Al-Mashat, the Minister of International Cooperation, revealed.