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 October 4th to October 11th 

Headline inflation reached 6.6% in September 2021, compared to 5.7% in August 2021, according to the CBE.

Net International Reserves recorded $40.83 billion at the end of September 2021, the Central Bank of Egypt (CBE) announced.

IHS Markit Egypt Purchasing Managers’ Index™ (PMI), for non-oil private sector economy, reached 48.9 in September.

The International Monetary Fund (IMF) expected the Egyptian economic growth to rebound during fiscal year (FY) 2021/22 to reach 5.2% thanks to the reforms implemented since 2016, according the report published by the Cabinet.

The IMF estimated the inflation to reach 4.7% in FY 2020/21, and expected the total international reserves to record $43 billion in 2021/2022, compared to $16.7 billion in 2013/2014, according to a Cabinet report.

The World Bank expected Egypt’s economic growth to rise from 3.3% to 5% in FY 2021/22.

Egypt aims to reach $100 billion in annual exports over the next three years, the Egyptian Ministry of Finance announced.





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