A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
August 20 to August 26 Coverage:
The CBE’s MPC decided to cut interest rates by 150 basis points. Accordingly, the overnight deposit rate, overnight lending rate, the main operation rate, and the discount rate reached 14.25%, 15.25%, 14.75%, and 14.75%, respectively.
The Egyptian stock exchange has launched the EGX30 Total Return Index (EGX30 TR), which will account for dividends and prices together.
The Harvard Institute for International Development expects the Egyptian economic growth rate to grow by 6.8% per annum, on average, according to the Ministry of Finance.
The Economist has ranked Egypt at the third place globally after China and India in terms of the economic growth rate, according to the Ministry of Planning, Monitoring and Administrative Reform’s Facebook page.
The Egyptian exports value to the G-7 has recorded $3.8 billion in H1 2019, compared to $3.5 billion in the same period of 2018, Almal News reported citing CAPMAS data.
The Harvard Institute for International Development has ranked Egypt at the 68th place in terms of the Economic Complexity Index, according to the Ministry of Planning, Monitoring and Administrative Reform Facebook page.