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

November 22 Coverage to November 28:

The Egyptian economy achieved an initial growth of 9.8% during Q1 2021/22, the Minister of Planning and Economic Development, Hala El Said remarked.

The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that Egypt’s exports are reported at $29.7 billion, rising by 40% in the first nine months of 2021, compared to the $21.2 billion recorded in the same period of 2020.

Egypt’s exports to the Common Market for Eastern and Southern African Countries (COMESA) increased by 32.4 % during the first nine months of 2021 to reach $2.3 billion, compared to $1.7 billion during the same period in 2020, according to the (CAPMAS).

Engineering exports increased by 42% during the first nine months of 2021, reaching $2.29 billion, compared to $1.6 billion during the same period in 2020, according to the Minister of Trade and Industry Nevine Gamea.

Minister of Finance(MoF) Mohamed Maait stated that EGP 19 billion has been allocated in the budget for FY 2021/22 to finance the “Haya Karima” Program.

The Asian Infrastructure Investment Bank (AIIB) approved $360 million in financing for Egypt’s development, according to a statement by Minister of International Cooperation Rania Al-Mashat.

The Arab Fund for Social and Economic Development (AFSED) will sign an agreement with an Egyptian bank to finance Small and Medium Enterprises (SMEs) with $30 million, according to the Cabinet.

AFSED’s current investment portfolio in Egypt reached $5.2 billion, according to the Cabinet.