A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Covering January 22 to January 28:
Egypt is ranked among the top 10 countries in the world and the first in Africa in attracting foreign direct investment, Amwal Alghad reported.
The Egyptian economy is expected to maintain a growth of around 5.2%, according to the United Nations World Economic Outlook, Alborsa news reported.
The volume of European investments in the Egyptian market reached around $15.1 billion, Alborsa news reported.
During 2018, reducing the burden of the Egyptian balance of payments helped reduce the inflation rates, according to the World Economic Outlook, Almal reported.
International Monetary Fund (IMF)’s executive board will discuss Egypt’s economic reform program in the upcoming weeks for getting the approval needed to release the next $2 billion, according to an IMF statement.
The Central Bank of Egypt (CBE) has issued on January 28 treasury bonds, at a value of around EGP 1.2 billion, as it is expected that the budget deficit will reach around EGP 440 billion, Amwal Alghad reported.
The selling price of the US dollar declined in Egyptian banks, recording EGP 17.70, according to Tarik Amer, Governor of the CBE, Amwal Alghad reported.