A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
March 26 to April 1 Coverage:
Egypt forecasts a total deficit of EGP 445.1 billion in its EGP 1.575 trillion budget draft for 2019/20, according to Amwal Al Ghad.
The CBE issues a decision on March 2018 to maintain the overnight interest rate on deposits and loans at 15.75, 16.25 and 16.75 respectively, Al Ahram Newspaper said.
The EGX ended March 31st session on a mixed note, as it added EGP 1.8 billion to the market capitalization, amid Arab selling, Egypt Today reported.
Egyptian Foreign Minister, Sameh Shoukry, met with US Representative and Chairwoman of the House Appropriations Committee Democrat, Nita Lowey, to discuss ways for enhancing Egyptian-US relations, including the US economic and military assistance program, according to Al Ahram Newspaper.
Trade exchange volume between Egypt and the US grew by 26.4% to reach $7.117 billion during 2018, compared to $5.235 billion during 2017, Arab Finance reported.
Egypt’s President Abdel Fattah El Sisi announced raising the country’s minimum wage to EGP 2,000 per month from EGP 1,200, Reuters said.
Egypt’s unemployment rate decreased from 13.3% in Q4 2014 to 8.9% in Q4 2018, according to Al Ahram Newspaper.