Egypt Economic Outlook
February 5, 2019
The economy grew at a strong but unchanged pace in the second quarter of fiscal year 2019—which covered October to December 2018—following a small slowdown in the first quarter. Although comprehensive data is outstanding, this came on the heels of increased investment. Moreover, the government expects unemployment to have fallen in the same period, which, combined with higher public-sector pay, likely supported private consumption growth. Meanwhile, on 25 January the IMF paved the way for the disbursement of a USD 2 billion loan payment to Egypt, which would bring total disbursements to USD 10 billion out of a possible USD 12 billion under the three-year financial support program agreed in November 2016. On the political front, around 120 of the 596 lawmakers in parliament submitted a petition on 3 February to extend the presidential term to six years from four years, which would leave President el-Sisi in office until a minimum of 2024 instead of 2022. If the bill garners sufficient support in parliament, this would require a change to the country's constitution and, thus, a national referendum.Egypt Economic Growth
Economic growth should be robust this fiscal year thanks to higher government investment spending, rising natural gas production and an improving regulatory environment. However, despite moderating in recent years, fiscal imbalances continue to weigh on economic prospects. FocusEconomics panelists expect GDP to expand 5.3% in FY 2019, which is up 0.1 percentage point from last month’s forecast, and 5.4% in FY 2020.Egypt Economy Data
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Egypt Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 17.75 | 0.0 % | Feb 14 |
| Exchange Rate | 17.54 | 0.0 % | Feb 14 |
| Stock Market | 1,436 | 0.53 % | Feb 14 |
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Egypt Economic News
Egypt: Inflation ticks up in January
February 10, 2019
In January consumer prices rose 0.6% compared to the previous month, contrasting the 3.4% decrease in December.
Egypt: Business conditions in the non-oil private sector deteriorate again in January
February 5, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) fell to 48.5 in January from 49.6 in December, representing the lowest reading since December 2017.
Egypt: The economy grows at a steady pace in the second quarter of FY 2019
January 16, 2019
According to an announcement by the Ministry of Planning and Administrative Reform on 16 January, GDP increased 5.3% in October–December (Q2 FY 2019) compared to the same three months a year earlier.
Egypt: The non-oil private sector inches closer to expansion in December
January 10, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) ticked up to 49.6 in December from 49.2 in November, which represents a four-month high.
Egypt: Inflation tumbles in December
January 10, 2019
In December consumer prices fell 3.39% compared to the previous month, more than the 0.76% decrease in November.
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