Egypt Economic Outlook
October 4, 2016The Egyptian government continues to tout its economic plan to staunch the spiraling budget deficit and to restore balance to a faltering currency market, beset by a dollar shortage and a widening disparity between the official and black market rates. The economic plan comprises short- and medium-term measures, including the long-awaited introduction of a Value-Added Tax and cuts to energy subsidies and government wages. Egyptian officials have also repeatedly hinted at a further devaluation of the Egyptian pound and an eventual floating of the currency, which has been hit by reduced tourist dollars and soaring inflation. The number of tourists almost halved in FY 2015/2016, which has also caused the current account to swing into a deficit this year, according to the Central Bank’s latest data. The Egyptian government estimates that it needs up to USD 21.0 billion in funding for its economic plan, which will in part be covered by a USD 12.0 billion loan from the IMF.
Egypt Economy Data
5 years of Egypt economic forecasts for more than 30 economic indicators.
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|Bond Yield||17.40||0.0 %||Oct 20|
|Exchange Rate||8.88||0.0 %||Oct 20|
|Stock Market||730||1.54 %||Oct 20|
Egypt Economic Growth
October 4, 2016The country’s incapacity to attract investment, an unstable political environment and weak domestic activity will drag on growth this year, despite the government’s push for reforms. Nonetheless, our panelists expect GDP to have expanded 3.3% in FY 2016, which is up 0.2 percentage points from last month’s forecast. Our panel sees growth of 3.6% in FY 2017.
Egypt Economic News
October 10, 2016
In September, consumer prices rose 1.2% over the previous month, which was below August’s 1.9% increase.
October 5, 2016
The Emirates NDB Egypt Purchasing Managers’ Index (PMI) decreased from August’s 47.0 to 46.3 in September, the lowest reading since the Central Bank devaluated the Egyptian pound against the U.S. dollar six months ago.
September 22, 2016
The Central Bank of Egypt (CBE) unexpectedly left all rates unchanged at its meeting on 22 September.
September 10, 2016
In August, consumer prices rose 1.9% over the previous month, markedly above the 0.7% increase recorded in July.
September 5, 2016
The Emirates NDB Egypt Purchasing Managers’ Index (PMI) decreased notably from July’s 48.9 to 47.0 in August, the lowest reading in four months.