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.

April 11 Coverage to April 17

Egypt’s tourism revenues increased to $5.8 billion during H1 of the fiscal year (FY) 2021/22, according to the Central Bank of Egypt (CBE).

Egyptian workers’ remittances increased by 0.4% reaching $15.6 billion in H1 of FY 2021/22, the CBE disclosed.

Foreign Direct Investment (FDI) in Egypt achieved a net inflow of $3.3 billion during H1 of FY 2021/22, the CBE said.

S&P Global Egypt Purchasing Managers Index (PMI) reached 46.5 in March down from 48.1 in February which is the lowest in 21 months, S&P Global stated.

Egyptian industrial production grew by 164%  to reach EGP 942 billion in FY 2019/20, compared to EGP 357 billion in FY 2013/14, the Ministry of Trade and Industry announced.

Egypt’s investments in infrastructure reached $150 billion during the last seven years to support private investments, the Ministry of Planning and Economic Development (MPED) said.

Egypt invested EGP 72.4 billion in digitalization during the past seven years, increasing 400% between FY 2019/20 and FY 2020/21, the MPED declared.

Egypt’s current development cooperation portfolio with the World Bank (WB) amounts to $5.8 billion containing 18 projects in various sectors, including education, health, transportation, petroleum, social solidarity, housing, sewage, as well as local and environmental development, Ministry of International Cooperation (MOIC) revealed.

The Egyptian Stock Exchange conducted five deals worth about $2 billion which includes the acquisition of stakes in the Abu Qir Fertilizers and Chemicals Company (AFC), the Misr Fertilizers Production Company (MOPCO), the Alexandria Container Handling Company, the Commercial International Bank (CIB), and Fawry, Al Ahram announced.






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