Monday Minutes: Economic Snapshot

Monday Minutes: Economic Snapshot
Ryerson Economics

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

May 6 to 13 Coverage:

The Egyptian economy grew by 5.6% in Q3 FY 2018/19, compared to 5.4% in Q3 FY 2017/18, according to the Cabinet.

The total budget deficit has declined to 5.3% of GDP (%) between July 2018 and March 2019, down from 6.2% for the same period a year earlier, the Ministry of Finance said in a statement.

Monthly inflation recorded 0.4% in April 2019, compared to March 2019. On the other hand, the annual inflation CPI reached 12.5% in April 2019, down from 12.9% in April 2018, according to CAPMAS.

Public debt interest increased by EGP 48 billion during the first nine months of the current fiscal year, recording EGP 316.9 billion, up from EGP 568.8 billion at the same period a year before, Almal reported.

Tax revenues have increased by EGP 65 billion from July 2018 to March 2019, Almal reported.

Government investments witnessed an unprecedented surge by 54% from July 2018 to March 2019, reaching EGP 92 billion, according to the Ministry of Finance.

The Financial Regulatory Authority (FRA) is preparing amendments to Law No. 9 for 2014 to regulate microfinance activities and cover all SMEs granted financial works, according to Almal.



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