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.

From September 27th to October 4th

The Egyptian Minister of Trade Nevine Gamea, announced the issuance of 338 certificates for exporters by the Export Development Fund (EDF), with a total fund of EGP 874.8 million, according to the Cabinet statement.

27 Egyptian startups were invited to participate at the Africa-France Summit, including 9 companies  funded by the organization Egypt Ventures Company, stated an announcement from the Ministry of International Cooperation (MOIC).

Egypt has completed and is still implementing development projects worth more than EGP 700 billion over the past 7 years in the Sinai Peninsula, according to the Cabinet report.

The ongoing development portfolio between Egypt and China amounts to approximately $1.8 billion in various sectors, MOIC said.

Egypt advances 17 places to rank 44th in Foreign Direct investments (FDI) inflows, according to the Global Innovation Index (GII) 2021 published by the World Intellectual Property Organization (WIPO).

Egypt advances 11 places to rank 9th in labor productivity growth sub-index, according to the GII 2021 report.

Egypt advances 10 places to rank 96th in the “market sophistication” category, according to the GII 2021 report.

Egypt jumps 7 places to rank 92nd in the “infrastructure” category, according to the GII 2021 report.

Egypt has implemented and is still executing a total of 6,362 projects in Sinai and Suez Canal cities since fiscal year (FY) 2014/15, until FY 2021/22, according to a Cabinet report.

Total investments in Suez Canal Economic Zone (SCZone) infrastructure projects have reached $18 billion. These projects are providing 80,000 direct and indirect job opportunities, according to a Cabinet report





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