Monday Minutes: Economic Snapshot

Monday Minutes: Economic Snapshot

A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.

December 22 Coverage to December 27:

The Monetary Policy Committee of the  Central Bank of Egypt (CBE) kept the basic interest rates in Egypt at 8.25% for deposit, 9.25% for lending, and 8.27% for credit, debit and main operations.

CBE offered treasury bills (T-bills) at a value of EGP 16.5 billion over two tranches. The first set of T-bills totals EGP 6 billion for 91 days, while the second set total EGP 10.5 billion for 266 days.

El Wadi El Gedid Governorate will have EGP 5.8 billion of public investments in the fiscal year (FY) 2020/21, which is above the FY 2019/20 by 21%, Hala El Said, the Minister of Planning and Economic Development, announced.

The Minister of International Cooperation, Rania Al-Mashat announced that the ministry has signed a development financing agreement worth around $638 million with the Arab Monetary Fund (AMF) to support Egypt’s state budget.

The Ministry of International Cooperation (MOIC) has implemented development financing partnership worth about $100 million to boost food security and sustainable agriculture.

MOIC announced an agreement with the Arab funds worth $ 754.4 million for the national plan of the Sinai Peninsula development.



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