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.

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.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password