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.

March 29 Coverage to April 4

Egypt directed EGP 750 billion, from the state’s general budget, during the period from 2018/19 to 2020/21, for the eradication of poverty, according to the Ministry of Planning and Economic Development’s report.

Egypt’s Suez Canal revenue reached $1.69 billion in Q1 2022, higher than $1.4 billion revenues in the same period a year before, the Suez Canal Authority (SCA) said.

Egypt successfully returns to international bond markets as it issued $500 million bonds despite the global challenges, the Egyptian Cabinet announced.

Egypt is the first Middle Eastern country to issue samurai bonds in the Japanese market at a value of 60 billion yen, the Cabinet announced.

The volume of trade exchange between Egypt and Saudi Arabia increased in 2021 by 66%, to reach $8.3 billion, according to the Information and Decision Support Center (IDSC).

Egypt and the US signed seven grant agreements worth $125 million in 2021, which enhanced development cooperation in several fields, in line with Egypt’s Vision 2030, Minister of International Cooperation Rania Al-Mashat said.

Sarah Samir 2790 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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