Monday Minutes: Economic Snapshot

Monday Minutes: Economic Snapshot

A summary of the major macroeconomic updates and indicators brought to you on one page for your convenience.

From 25 to the 31 August:

EGX has introduced a “D” List of companies that could face delisting over non-compliance with listing and disclosure rules.

The House of Representatives has given final approval to a new Customs Act, paving the way for expedited clearance. 

MPED issued a report on the international institutions’ views on the economic situation in Egypt during the pandemic.

Investments of EGP 1.4 trillion have been pumped over the past six years into the sectors of petroleum, water supply and sanitation, and roads throughout the Egyptian governorates.

Hutchison Ports has signed a $730 million agreement with the Egyptian Navy to build and operate a container terminal in Abu Qir naval base in Alexandria.

Auto sales in Egypt show signs of recovery in July from a downturn in Q2 with sales rising 14.4% YoY in July to reach 18,262, compared to 15,958 in 2019, according to industry data.

EGX is set to claim 30% ownership of commodities exchange as part of the government’s 50% ownership share in the new exchange with other shareholders, according to Al-Mal

The House of Representatives approved two international agreements with the International Bank for Reconstruction and Development (IBRD) and the Arab Fund for Economic and Social Development (AFESD), with a total of $743 million for financing housing projects and establishing a wastewater system in the Bahr Al-Baqar area, according to al-Ahram.

Abu Dhabi Commercial Bank PJSC (ADCB) will join the Egyptian market on August 30, providing new financial products to Egypt, according to Al-Ahram.


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