A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering January 29 to February 4:
Egypt’s debt ratios recorded 97% of Gross Domestic Product (GDP) in June 2018, down from 108% of GDP a year before, according to the Ministry of Finance.
The Ministry of Finance managed to decrease the balance of USD treasury bills to $3.25 billion during 2018, the Ministry of Finance announced.
Egypt’s economic growth rate reached 5.5% during the 1H of FY 2018/19, increasing by 0.2% from the rate in the same period of FY 2017/18, the Minister of Planning stated in a Cabinet meeting.
The country’s communications and information technology sector achieved a 16.4% growth rate during Q2 FY 2018/19, which is the highest rate achieved among the Egyptian economy sector, Egypt Independent reported.
Egypt reached a primary budget surplus of EGP 21 billion, forming 0.4% of gross GDP during 1H FY 2018/19, down from EGP 14 billion, 0.3% of GDP, during the same period of FY 2017/18, according to Al Ahram Newspaper.
Egypt targets issuing its foreign currency bond offering during Q1 2019 to collect between $3 billion and $7 billion, the Finance Minister told Reuters.
Egypt will need around $675 billion of investment over the next 20 years to cover its infrastructure demands, according to the G20 group of countries’ Global Infrastructure Outlook, Al Ahram Newspaper said.
Egypt and France trade exchange volume reached $2.52 billion from January to November 2018, Trade and Industry Minister said at the Egyptian-French Business Forum, according to Egypt Today.