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 14 to May 20:

The IMF reached a staff-level agreement with the Egyptian government for the completion of the fifth and final review of the economic reform program, which is supported by the $12-billion extended fund facility.

The Egyptian Pound maintained gains against the US Dollar after breaking the EGP 17 mark for the first time in two years, as shown by the CBE‘s data on May 19.

Unemployment declined by 0.8%, reaching 8.1% of the total workforce in Q1 2019, compared to 8.9% in Q4 2018, according to CAPMAS.

The new banking sector draft law was reviewed during the Economic Ministerial Committee meeting on May 14.

The Ministry of Finance presented the electronic tax returns system that helps create an accurate database for all transactions, according to the Cabinet.



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