A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
December 31 to January 06 Coverage:
The CBE stated that the net international reserves recorded around $45,419.6 million by the end of December 2019.
In a Cabinet meeting with the MPMAR, Prime Minister Mostafa Madboly stated that the investment plan of FY 2020/21 has reached around EGP 140 billion, up from previous FY’s plan of EGP 100 billion.
The investment plan of FY 2020/21 aims at achieving a growth rate of around 6%, boosting the GDP to EGP 6.6 billion, according to the Cabinet.
Financial Times pointed out that Egypt is expected to remain among the countries that achieve good returns for emerging markets’ investors, according to the MPMAR Facebook page.
The MPMAR Facebook page stated that exports play a vital role in increasing the size of Egypt’s foreign resources, in addition to foreign investments, tourism, Suez Canal, and Egyptian remittances.