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

July 30 to August 5:

President Abdel Fattah El Sisi has approved amendments to the Stamp Tax Law, recently passed by the House of Representatives.

CBE has introduced the Cairo Overnight Interbank Average (CONIA), a risk-free benchmark on interbank transactions that was developed by the Egyptian Money Market Contact Group (MMCG), according to the EBRD.

The Egyptian Exchange (EGX) has approved the semi-annual review and rebalance for market indices, taking effect from August 1.

The Ministry of Finance has issued the executive rules for implementing a minimum wage for public sector employees.

Prime Minister Mostafa Madbouly discussed in a cabinet meeting the final preparations before launching the government portal for industrial areas, which will create a unified database for all the available investment opportunities.

The Ministry of Finance has achieved its highest initial budget surplus at 2%, compared with 0.1% last year, with budget cuts saving around EGP 104 billion.

The Ministry of Finance has maintained the customs dollar exchange rate at EGP 16 during the month of August.