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

June 18-24:

The GDP growth rate reached 5.6%, while unemployment fell to 8.7% during Q4 FY 2018/19, according to the Ministry of Planning, Monitoring, and Administrative Reform, Al Mal reported.

Egypt can achieve even higher growth rates, according to Mahmoud Mohie Eldin, the World Bank Senior Vice President for the 2030 Development Agenda, United Nations Relations, and Partnerships, Mubasher reported.

The Ministerial Economic Committee held a meeting to discuss the Ministry of Finance’s suggestion to establish a new EGP 100 million clearing firm, in collaboration with the central bank and Misr Clearing, Depository and Central Registration Company (MCDR), according to a Cabinet statement.

The Organization of Economic Cooperation and Development (OECD) has stressed the importance of SMEs as it accounts for two-thirds of the global economy, Al Mal reported.

Egypt could sign a free trade agreement with the Eurasian Economic Union (EAEU) in 2020, said Russian Minister of Industry and Trade Denis Manturov, Al Ahram reported.