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

October 30 Coverage to November 7:

• Central Bank of Egypt (CBE) reported that Net International Reserves (NIR) reached $40.849 billion in October 2021, increasing by 0.06%, compared to $40.825 billion during September 2021.

• The Suez Canal Authority (SCA) increases the transit tolls by 6% for all types of ships passing through the Suez Canal during 2022, except for LNG ships and tourist cruise ships.

• Egypt’s IHS Markit Egypt Purchasing Managers’ Index™ (PMI™) recorded 48.7 in October 2021, compared to 48.9 during September 2021.

• Minister of Planning and Economic Development Hala El-Said indicated that government investments worth EGP 92.4 billion will be directed towards developing Upper Egypt during the fiscal year (FY) 2021/22.

• The Egyptian recovery index in Q4 2020/21 rose by three points to 106, the Ministry of Planning and Economic Development (MPED) announced.

• Minister of Trade and Industry Nevine Gamea said that Egypt’s non-petroleum exports to European Union (EU) markets increased by 38%, reaching EUR 4.1 billion over the past eight months, compared to EUR 2.9 billion in the same period in 2020.

• Central Agency for Public Mobilization and Statistics (CAPMAS) reported that Egypt’s exports to the United Kingdom (UK) increased by 52.2%, reaching $1 million during H1 2021 compared to $388.5 million during the same period in 2020.

• CAPMAS revealed that Egypt’s exports to the G20 countries increased by 39.2%, reaching $9 billion in H1 2021, compared to $6.5 billion in the same period in 2020.

• The Suez Canal Authority (SCA) reported that Suez Canal revenues increased by 12.4%, reaching $551.1 million in October 2021, compared to $490.2 million in the same period last year.

• Ministry of International Cooperation (MOIC) announced that Egypt signed seven development financing agreements with the US Agency for International Development (USAID), worth $125 million to support the country’s important sectors.