A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
February 26 to March 4 Coverage:
Egyptian real GDP growth is expected to reach 5.8% in fiscal year (FY) 2018/19, from an estimated 5.3% in FY 2017/18, slowing to 5.1% in FY 2019/20, the Institute of International Finance (IIF) estimates.
The Egyptian government launched the first phase of the initial public offerings (IPOs) program on the Egyptian Exchange (EGX), Egyptian Independent reported. The following wave of state-owned companies going public will see more listings, according to Enterprise.
President Abdel Fattah El Sisi met with his Albanian counterpart Ilir Meta in Cairo on Wednesday, and discussed enhancing bilateral relations, Amwal Al Ghad reported.
Egypt and South Korea signed a memorandum of understanding (MoU) on Wednesday to increase industrial projects and trade exchange, with Samsung and LG promising new investments in Egypt as an exporting hub to African markets, according to the Ministry of Investment and International Cooperation.
An official delegation from Romania visited Egypt to discuss with Egyptian ministers ways to boost economic cooperation and trade ties, according to the Romanian news agency (AGERPRES).
Egypt’s cotton exports increased by 45.1% year-on-year (YOY), recording 128,300 metric quintals from September to November 2018, CAPMAS revealed.
Armenian-Egyptian Business Association signed an agreement with the International Business Relations Support Council to implement joint programs to strengthen economic ties, Armenpress News Agency reported.
EGX ended last week’s trade on a mixed note, as the benchmark index EGX30 declined 2.3%, recording 4.8% gains in February.