A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
June 30 to July 6 Coverage:
IFC, IFU, and PROPARCO will provide $108.5 million to Humania, a private healthcare company, to help improve medical care in Egypt and Morocco.
CAPMAS reported that the trade balance deficit reached $2.36 billion in April compared to $4.28 billion in April 2019, decreasing by 45%.
Crude oil imports have amounted to $119.1 million in April compared to $227 million in April 2019, with a noticeable decline of 47.5%, according to CAPMAS. Meanwhile, crude oil exports declined by 78.4% recording $41 million in April 2020 against $189 in the same period last year.
The state invested over EGP 4.5 trillion in developing the infrastructure in the past six years, according to MPED.
USAID will provide $105 million to finance five development projects in Egypt, according to MOIC.
The Cabinet has approved a 1% surtax on all salaries from all employees’ monthly salaries during FY 2020/21 to help the state against the coronavirus impact.
The Suez Canal Bank will launch its first money market fund, with a capital of EGP 250 million, according to Al-Mal News.