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 29 Coverage to January 4: 

The European Investment Bank (EIB) is providing Banque Misr with a EUR 425 million credit line to support Egyptian private small and medium-sized enterprises (SMEs) that have been impacted by the pandemic.

The Suez Canal Authority (SCA) will keep the fixed transit fees for all types of vessels unchanged in 2021.

SCA’s revenues amounted to $5.61 billion in 2020.

The state’s public treasury subsidy  for the industrial sector’s gas and electricity bills in 2020 amounted to EGP 10 billion.

The state allocated EGP 14.4 billion to the health sector in 2020 to support the sector amid the pandemic.

The Ministry of Finance (MoF) allocated EGP 77.3 billion to commodity and service authorities from January to November 2020, and EGP 44 billion to the General Authority for Supply Commodities (GASC).

The Ministry of Planning and Development (MPED) allocated EGP 13.3 billion of public investments in Matrouh governorate in fiscal year (FY) 2020/21, a 34% increase from FY 2019/20.

MPED allocated EGP 16.6 billion of public investments in Alexandria in FY 2020/21, a 35% increase from FY 2019/20.

Egyptian exports to foreign markets recorded $22.8 billion from January to November in 2020 compared to $23.36 billion during the same period in 2019.

Egyptian imports recorded $58.11 billion during the first 11 months of 2020, compared to about $65.83 billion in the same period in 2019.

The trade deficit decreased by 17%  during the first 11 months of 2020, recording $35.31 billion against $42.46 billion in the same period in 2019.

The National Telecom Regulatory Authority (NTRA) signed three agreements to allocate new frequency bands of 2 x 40  megahertz (MHz) width in the 2600 band, with Vodafone Egypt, Telecom Egypt, and Etisalat Egypt valued at $1.17 billion.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password