A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
March 2 Coverage to March 8:
The net international reserves (NIR) reached $40.2 billion at the end of February 2021.
IHS Markit Egypt Purchasing Managers’ Index (PMI) rose to 49.3 in February up from 48.7 in January.
The African Development Bank Group (AFDB) signed financing agreements of EUR 109 million with Egypt to improve sanitation infrastructure and services for rural communities in Luxor Governorate.
The World Bank approved a $440 million loan to support Egypt’s initiatives to improve the safety and service quality of the country’s railways.
The Ministry of International Cooperation’s (MOIC) ongoing development financing portfolio includes more than $13 billion in funds allocated to sustainable infrastructure.
The state budget achieved a primary surplus of EGP 14 billion, while the budget deficit decreased to 3.6% of Gross Domestic Product (GDP), according to the Financial indicators for H1 2020/21.
The public debt ratio to GDP decreased by 3% year-on-year (YoY) reaching 87.5% at the end of June 2020.
Egypt’s banking sector net foreign assets increased by $700 million in January to reach $17.85 billion, in comparison to $17.15 billion at the end of December.