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.

June 4 to June 10:

The annual inflation rate has recorded 13.2% in May 2019, compared to 11.5% in the same month a year before, according to CAPMAS.

The Egyptian government wants to boost the economic growth rate to 6% and reduce the public deficit by 7.2% during FY 2019/20, Alborsa reported.

The Suez Canal has achieved a new all-time high contribution to the state treasury at EGP 74 billion in FY 2018/19, according to the Ministry of Finance, Al Ahram reported.

Standard Chartered expects the IMF to continue supporting Egypt’s economic reforms through non-financing tools, such as the precautionary and liquidity line (PLL) and stand-by arrangement (SBA) to enhance investors’ confidence, Al Mal reported.

The House of Representatives’ Plan and Budget Committee will discuss the income tax law amendments, which includes a 10% unified tax on capital gains, Alborsa reported.


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