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.

February 23 Coverage to March 1:

Egyptian food exports in 2020 are estimated at $3.5 billion, the same value of exports in 2019, according to the Food Export Council (FEC).

Egypt’s Cabinet approved a $200 million green loan from the International Bank for Development and Construction (IBRD) to modernize air quality monitoring systems within the project of Air Pollution and Climate Change Management in Cairo.

Egypt’s industrial production increased by 163.8% in the fiscal year (FY) 2019/20, recording EGP 942.4 billion, compared to EGP 847.2 billion in FY 2018/19.

The growth rate of the industrial sector reached 6.3% in FY 2019/20.

Public investments in manufacturing grew 7 times more, recording EGP 49 billion in FY 2019/20 compared to EGP 6.1 billion in FY 2013/14.

The industrial sector’s contribution to the Gross Domestic Product (GDP) increased by 17.1% in FY 2019/20 compared to FY 2013/14 when the industrial contribution was 16%.

The Ministry of Finance (MOF) obtained a total of EGP 2.6 billion in taxes and customs fees from Suez imports in January. Meanwhile, taxes collected from Dekheila and Damietta were valued at EGP 2.3 billion.

Zeta Investment in UAE presented an offer to obtain 90% of Alexandria National Company for Financial Investments’ (ANFI) shares at EGP 5.48 per share.


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