A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
October 26 to November 1 Coverage:
Fitch Solutions expects that Egypt’s real economic growth to reach 3.5%, by the end of 2020, the MPED reported.
Egypt recorded the highest implementation of the UN’s Sustainable Development Goals (SDGs) in the region by achieving 50% of them, according to a report issued by the United Nations Economic and Social Commission for Western Asia (ESCWA), the Ministry of International Cooperation (MOIC) stated.
The Minister of International Cooperation, Rania Al Mashat, explained that Egypt allocated $25 billion for its ongoing cooperation portfolio to implement projects that come in line with SDGs.
The Ministry of Trade and Industry (MTI) declared that Egypt’s exports to Russia increased by 10.7% reaching $382 million during H1 2020, compared to $345 million during the same period in 2019.
Deputy Head of the Ukrainian Presidency Office for International Relations, Ihor Zhovkva, stated that the trade exchange volume between Egypt and Ukraine reached $2.6 billion during 2019, according to the MTI.
MTI reported that Egypt’s exports to Kenya amounted to $416 million in 2019.
The Minister of Planning and Economic Development, Hala Al Saeed, announced that Egypt targets to allocate EGP 136.4 billion for investments in urban development, representing 18.5% of the country’s total investment plan for the FY 2020/21.
A ministerial report revealed that the urban development sector’s share in Egypt’s Gross Domestic Product (GDP) at constant prices is expected to increase by 4.7% reaching EGP 706 billion in FY 2020/21, according to the Ministry of Planning and Economic Development (MPED).
A ministerial report declared that Egypt targets to increase the urban development’s output at the current prices to EGP 1,975.2 billion in FY 2020/21 compared to EGP 1,680.3 billion in FY 2019/20, according to the MPED.
MPED reported that the transport sector’s investments are estimated to reach EGP 119.7 billion in FY 2020/21 plan, with targeted growth of 4.2%.