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

August 06 to August 19 Coverage:

The annual headline inflation rate has declined to 8.7% in July 2019, down from 9.4% recorded in June and 13% in July 2018, according to CAPMAS.

The CBE reported that the net international reserves have reached initially around $44,916.7 million at the end of July 2019.

The government-debt ratio to the GDP has declined from 108% in 2017 to 90.5% in 2019, according to the Ministry of Finance, which announced as well its target to reach around 82.5% in 2022 and around 77.5% by June 2022.

The unemployment rate has dropped reaching 7.5% in Q2 2019, compared to 8.1% in Q1 of the same year, according to the Cabinet.

The Egyptian non-oil exports have recorded $13.037 billion during H1 2019, according to GOEIC.

The trade balance deficit has declined by around 25% to reach $3.34 billion in May 2019, down from $4.42 billion recorded in the same month last year, CAPMAS revealed.

The Suez Canal revenues have increased by 5.3%, reaching EGP 104.3 billion in FY 2018/19, with a contribution in the state treasury by around EGP 72.2 billion, according to the Cabinet’s Facebook page.

Egypt have successfully received the final $2 billion tranche of the $12 billion IMF three-year program loan, Reuters reported.

The Ministry of Finance have announced conducting some amendments in the Income Tax Law to get rid of some legal gaps.