Egypt Economic Outlook
October 2, 2018The economy has made good progress so far in the 2019 fiscal year, which began in July. In August, operating conditions in the non-oil private sector improved for the second consecutive month and at a faster pace than in July. This was due to increased new business inflows, from both domestic and foreign sources. Moreover, output stabilized following contractions in recent months. This comes after annual economic growth in April–June (the last three months of FY 2018) remained at the multi-year high recorded in January–March, supported by increased investment and exports. Meanwhile, in a boost to future exports, on 19 September the governments of Egypt and Cyprus agreed to build an underwater pipeline linking the vast gas reserves located in Cypriot waters with Egypt’s underutilized LNG export facilities.
Egypt Economic GrowthIn FY 2019 economic growth is expected to remain robust. Increased government investment spending, an improved regulatory environment, a weaker pound and construction activity related to the building of the new capital city should boost activity. However, large fiscal imbalances and the higher price of oil will weigh on prospects. FocusEconomics panelists expect GDP to expand 5.2% in FY 2019, which is up 0.1 percentage points from last month’s forecast, and 5.1% in FY 2020.
Egypt Economy Data
5 years of Egypt economic forecasts for more than 30 economic indicators.
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|Bond Yield||18.40||0.0 %||Oct 11|
|Exchange Rate||17.93||0.0 %||Oct 12|
|Stock Market||1,254||0.53 %||Oct 11|
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Egypt Economic News
October 3, 2018
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) fell to 48.7 in September from 50.5 in August, coming below the 50-threshold that separates contraction from expansion in the non-oil private sector and hitting the lowest since December 2017.
September 27, 2018
At its monetary policy meeting held on 27 September, 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%.
September 15, 2018
In August, urban consumer prices rose 1.78% from the previous month, less than July’s 2.43% increase.
September 4, 2018
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) increased to 50.5 in August from 50.3 in July, inching further above the 50-threshold that separates expansion from contraction in the non-oil private sector for the second consecutive month and hitting a nine-month high.
August 16, 2018
At its monetary policy meeting held on 16 August, 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%.