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.

October 8 to October 14 Coverage:

For the fourth consecutive month, the headline inflation rate has dropped in September to 4.3%, from 7.5% recorded in August, according to CAPMAS.

The IMF has issued the fifth and final review of Egypt’s Economic Reform Program.

The World Bank sees in its economic update that Egypt’s economy will grow at a 5.8% rate during FY 2019/20, and accelerate to 6% in FY 2020/21.

Prime Minister Mostafa Madbouly approved plans to reduce regulatory fees on stock trading by 50%, according to the Financial Regulatory Authority.

Egypt has managed to reduce public debt by 18% to reach 90% of the GDP in June 2019, down from 108% of the GDP in June 2017, through achieving an initial surplus of around 2% of the GDP in FY 2018/19, according to Almal news.

Morgan Stanley has considered Egypt as the best story in the application of the Economic Reform Program in the Middle East and perhaps in the emerging market, according to the MPMAR Facebook page.


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