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.

July 2 to 8:

Egypt’s real GDP growth rose to 5.5% in Q4 2018 from 5.3% in the previous quarter, according to the CBE Monetary Policy Report.

Headline inflation continued to decline in January and February, registering an average of 1.9%, compared to 2.3% in Q4 2018, as per the Monetary Policy Report.

The Balance of Payments recorded a $2.1 billion deficit in Q4, while the hydrocarbon trade balance registered an $800 million surplus during the same period, the first since Q4 2013, as shown by the CBE Data.

FDI total inflows in Egypt stabilized at $10.2 billion, while total outflows reached $5.6 billion. Accordingly, net FDI totaled $4.6 billion, according to the CBE.

Net International Reserves reached $44.35 billion at the end of June 2019, according to the CBE.

The House of Representatives has passed proposed amendments to Investment Law No. 72 for the year 2017, Al-Ahram reported.

The Ministry of Finance has presented Egypt’s economic reforms during the Euro-Mediterranean Investment Forum, which took place in Italy on July 4-5, Al-Ahram reported.


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