A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
March 5 to March 11 Coverage:
Egypt’s annual core inflation rate increased at the end of February 2019 reaching 9.2%, up from 8.6% in January 2019, the CBE announced.
Egypt’s foreign reserves increased by $1.4 billion at the end of February 2019 to record $44.06 billion, compared to $42.6 billion at the end of January 2019, according to Ahram Newspaper.
The implemented amendments to some provisions of the Investment Law No. 72 of 2017 are expected to encourage companies to expand their investment through granting incentives the law was restricting to new projects, according to Egypt Today.
Egypt is currently working on projects worth EGP four trillion which are expected to be completed by June 30th, 2020, according to Al Mal News.
The ministry of finance began a new plan to decrease the public debt (% of GDP) to 80% by 2022, according to Arab Finance.
Egyptian government plans to implement a new strategy to boost the volume of the country’s exports to $55 billion, compared to the current level of $24.8 billion, according to Arab Finance.