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 29 to November 4 Coverage:

The CBE issued the Financial Stability Report for 2018.

Egypt’s economic growth rate was stable during Q1 FY 2019/20, recording 5.6%. It is expected to reach 3% in 2019 and 3.4% in 2020, Hala El Saeed, the Minister of Planning, Monitoring, and Administrative Reform mentioned during a Cabinet meeting.

Prime Minister Mostafa Madbouly pointed out the decline in non-petroleum trade deficit by 22% during H1 FY 2019/20, as imports dropped by 13% and exports increased by 5%.

The Ministry of Finance plans to issue international bonds, in dollars, in international markets during the upcoming period.

The EGX indices increased during the closing sessions of the week’s transactions on October 31. Market capital increased, reaching EGP 727.7 billion, up from EGP 723.9 billion, according to Ahram Gate.

Egypt is considered the most attractive country for foreign direct investment in Africa during H1 2019, according to UNCTAD, Ahram Gate reported.


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