Monday Minutes: Economic Snapshot

Monday Minutes: Economic Snapshot

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

September 24 to September 30 Coverage:

The MPC decided to cut the CBE’s overnight deposit rate, overnight lending rate, the main operation rate, and the discount rate by 100 basis points to 13.25%, 14.25%, 13.75%, and 13.75%, respectively.

The Ministry of Trade and Industry revealed that the non-oil exports recorded more than $17 billion during the first eight months of 2019, which is a 3% increase compared to the period a year before, Ahram Gate reported.

The MPMAR issued a report clarifying the results of the construction phase for FY 2018/19, according to the MPMAR Facebook page.

Egypt’s exports to the EU witnessed an increase of 8.6% during H1 2019, reaching Euro 4.6 billion, up from Euro 4.26 billion at the same period a year before, Ahram Gate reported.

The Ministry of Finance affirmed that the Egyptian government is keen to implement the budget of ‘Programs and Performance’ as a main tool for economic and social reform.


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