A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
April 27 to May 4 Coverage:
Egypt ranked 61 out of 117 countries on the budget transparency index issued by the International Budget Partnership, rising in ranking from 67 in 2017, and recorded a transparency score of 43 out of 100.
According to MPED, Egypt allocated EGP 2.1 trillion of public investment in the last six years from FY 2014/15-2019/20.
7,320 investment projects were implemented from July 2018 to December 2019, with a total cost of EGP 591 billion, according to MPED.
Government investments amounted to EGP 113 billion during the period from July – March in FY 2019/20, recording a growth rate of 23% compared to the same period in FY 2018/19. Of this amount, 37% was allocated towards the housing and transportation sectors, and 27% was allocated towards the health and education sectors, according to MPED.
According to the Cabinet, companies which operate in the sectors that are affected the most by coronavirus (COVID-19) will pay 20% of 2019’s income-tax return in April, 30% in May, and the rest of the tax due will be paid before June 2, without incurring any interest or delay penalties.
The World Bank to grant Egypt concessional financing of $400 million instead of $250 million to support the comprehensive health insurance system, according to the Cabinet.
Egypt’s capital market’s value rose by 2.6% from EGP 214.8 billion in 2018 to EGP 220.4 billion in 2019, according to the FRA.
The FRA indicated that the average performance of EGX30 in 2019 scored about 13.962 points (December 2019 closure) and increased by 7.1%.
The FRA reported that total investments of insurance companies reached EGP 102 billion in 2019, compared to EGP 99.3 billion in 2018, with a growth rate of 2.7%.
MSMEDA financed 44,000 MSEs projects, amounting to EGP 960 million in Q1 2019, providing 66,500 job opportunities for the youth, according to Al-Ahram.