Egypt Economic Outlook
July 31, 2018The economy strengthened in FY 2018, which ended in June, and the implementation of President Abdel Fattah el-Sisi’s structural reforms has continued in recent months. In April–June, annual economic growth was unchanged from the multi-year high recorded in January–March. Moreover, in the July-to-March period, the current account deficit narrowed year-on-year by nearly 60% thanks to higher tourism revenues, remittance inflows and Suez Canal income. More recently, the government hiked the price of natural gas by up to 75% on 21 July. The hike comes into effect from August and should improve the fiscal balance. To help alleviate the pressure of higher prices on the poorest Egyptians, the FY 2019 budget, which came into effect in July, contains provisions such as the expanded use of cash transfer and food subsidy programs.
Egypt Economic GrowthThe economy is expected to grow at a solid pace in FY 2019. This is due to higher investment on the back of increased government spending and an improved regulatory environment. Moreover, the external sector should continue to benefit from the weaker pound. However, large fiscal imbalances and the higher price of oil will weigh on prospects. FocusEconomics panelists expect GDP to expand 5.1% in FY 2019, which is unchanged from last month’s forecast, and 4.9% in FY 2020.
Egypt Economy Data
5 years of Egypt economic forecasts for more than 30 economic indicators.
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|Bond Yield||17.50||0.0 %||Aug 15|
|Exchange Rate||17.89||0.0 %||Aug 15|
|Stock Market||1,487||0.53 %||Aug 15|
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Egypt Economic News
August 9, 2018
In July, urban consumer prices rose 2.43% from the previous month, less than June’s 3.48% increase.
July 26, 2018
According to an announcement by the Ministry of Planning on 26 July, GDP increased 5.4% year-on-year in the April–June period (which is Q4 of Egypt’s 2018 fiscal year).
July 10, 2018
In June, urban consumer prices rose 3.46% from the previous month, substantially more than May’s 0.17% increase.
Egypt: The non-oil private sector remains in contractionary territory in June, but businesses remain confident
July 3, 2018
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) increased to 49.4 in June from 49.2 in May.
June 28, 2018
GDP increased 5.4% year-on-year in the January–March period (which is Q3 of Egypt’s 2018 fiscal year) according to the Ministry of Planning, up marginally from the 5.3% expansion in the October–December period and marking a multi-year high.