A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
March 23 Coverage to March 29:
The state budget achieved an initial surplus of about EGP 14 billion, representing 0.2% of the Gross Domestic Product (GDP) in H1 2020/21.
Egypt’s budget deficit decreased to 3.6% during H1 2020/21 compared to 4.1% in H1 2019/20.
The Ministry of Finance (MoF) expects the budget revenues to amount to EGP 1.3 trillion for the fiscal year (FY) 2020/21, compared to EGP 1.1 trillion in FY 2019/20.
The budget deficit is expected to decline to 6.6% of GDP in FY 2021/22, meanwhile, the state budget forecasts an initial surplus of 1.5% of GDP in the same period.
The state targets a 5.4% economic growth rate and investments of EGP 1.3 trillion in FY 2021/22.
The state allocated EGP 358 billion of government investments towards 12,000 projects in FY 2021/22.
The volume of trade exchange between Egypt and Sweden in 2019 was estimated at $734 million.
Swedish investments in Egypt until the end of May 2020 recorded approximately $142 million.