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 15 to October 21 Coverage:

Future cooperation opportunities between Egypt and the IMF for continuing structural reforms including private sector growth, job creation, and increasing transparency of state organizations.

The Ministry of Finance inked a ‘Terms and Conditions’ agreement with Euroclear Bank.

EBRD’s investments in Egypt have reached around $5 billion, in which private sector investments represent around 58% of the total investments, according to Ahram Gate.

The Ministry of Finance expected continuing fiscal deficit in a decreasing rate to record around 7.2% during the current FY and around 6.2% in FY 2020/21, Ahram Gate reported.

Egypt’s external debt increased by around 2.3% in Q2 2019, to reach $108.7 billion at the end of June, up from $106.2 billion at the end of March, according to Almal news.

The Ministry of Finance mentioned that the government approved in September the provision of around EGP 4.4 billion for commodity and service entities to fulfill their obligations towards Egyptian citizens.


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