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.

January 10 Coverage to January 17:

Egypt’s ongoing development cooperation portfolio incorporates 372 projects, amounting to $26.5 billion, Minister of International Cooperation Rania Al Mashat said.

The Ministry of International Cooperation’s portfolio incorporates 67 projects related to youth capacity building and empowerment, totaling $3.9 billion, Al Mashat stated.

In 2021, multilateral and bilateral development partners financed $10.2 billion to various sectors in Egypt. This includes over $8.7 billion for the state’s development sectors and $1.5 billion for the private sector, Al Mashat announced.

The Egyptian government has directed EGP 2.4 billion worth of public investments to 191 development projects in New Valley governorate in FY 2021/22,  Ministry of Planning and Economic Development said.

The Egyptian exports rose by 48.2% to record $3.76 billion in October 2021, compared to $2.54 billion in the same month last year, according to a press release by Central Agency for Public Mobilization and Statistics (CAMPAS).

24% of the total cargo traded globally passes through the Suez Canal,  the Suez Canal Authority (SCA) announced.

The trade balance deficit recorded $2.63 billion in October 2021, compared to $3 billion in the same month last year, a decrease of 12.4%, CAMPAS stated.

 

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