Egypt Economic Outlook
November 27, 2018In the first quarter of fiscal year 2019, which runs from July 2018 to June 2019, the annual economic growth rate moderated slightly from the previous quarter’s multi-year high. The largest contributions to growth in Q1 came from the natural gas, wholesale and retail, agriculture, and telecommunications sectors, in descending order. Higher inflation, a small uptick in the unemployment rate and slower industrial production growth likely weighed on growth, however. Meanwhile, the second quarter got off to a rocky start in October, with business activity in the non-oil private sector contracting for the second consecutive month and at a faster pace than in September. More encouragingly, the IMF is close to making a further USD 2 billion of financial assistance available to Egypt and praised the government for recent reform efforts on 31 October.
Egypt Economic GrowthThis fiscal year should see solid economic growth thanks to higher government investment spending, rising natural gas production and an improving regulatory environment. However, large fiscal imbalances will weigh on economic prospects. FocusEconomics panelists expect GDP to expand 5.2% in FY 2019, which is unchanged from last month’s forecast, and 5.2% again in FY 2020.
Egypt Economy Data
5 years of Egypt economic forecasts for more than 30 economic indicators.
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|Bond Yield||18.06||0.0 %||Dec 12|
|Exchange Rate||17.91||0.0 %||Dec 12|
|Stock Market||1,256||0.53 %||Dec 12|
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Egypt Economic News
December 6, 2018
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) ticked up to 49.2 in November from 48.6 in October.
November 16, 2018
According to an announcement by the Ministry of Planning and Administrative Reform on 16 November, GDP increased 5.3% in July–September (Q1 FY 2019) compared to the same three months a year earlier.
November 15, 2018
At its monetary policy meeting held on 15 November, the Central Bank of Egypt (CBE) left the overnight deposit rate at 16.75%, the overnight lending rate at 17.75% and the main operation rate at 17.25%.
November 11, 2018
In October, urban consumer prices rose 2.59% from the previous month, more than September’s 2.53% increase.
November 5, 2018
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) ticked down to 48.6 in October, compared to 48.7 in September.