Current Account in Egypt
Egypt - Current Account (billions of U.S. Dollars)Economic conditions continued to improve in Q4 FY 2021 (April–June), with GDP expanding at the strongest rate in at least 13 years in annual terms—albeit supported by a favorable base effect. The result was largely due to skyrocketing fixed investment growth and a marked rebound in exports of goods and services. Moving to Q1 of the new fiscal year (July–September), activity likely continued to pick up, as the non-oil sector PMI averaged higher in the period than in the prior quarter. However, quickly rising daily infection rates and a sluggish vaccine rollout could prompt authorities to tighten restrictions and weigh on activity moving into Q2 FY 2022. Meanwhile, on 20 October, Fitch Ratings affirmed the country’s ‘B+’ rating with a stable outlook, citing fiscal and economic reforms and the economy’s resilience to the effects of the pandemic, but also noting still-large fiscal deficits, high debt stocks and political risks.
Egypt - Current Account (USD bn) Data
|Current Account Balance (USD bn)||-12.1||-19.8||-14.4||-6.0||-10.9|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||13.70||0.0 %||Dec 31|
|Exchange Rate||16.04||0.0 %||Jan 01|
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November 10, 2021
Consumer prices increased 1.50% in October over the previous month, accelerating from September's 1.14% rise.
November 3, 2021
The IHS Markit Purchasing Managers’ Index (PMI)—which measures business activity in the non-oil private sector—inched down to a five-month low of 48.7 in October from September’s 48.9.
October 28, 2021
At its monetary policy meeting on 28 October, the Central Bank of Egypt (CBE) opted to leave the overnight deposit, overnight lending and main operation rates unchanged at 8.25%, 9.25% and 8.75%, respectively.
October 20, 2021
The economy expanded 7.7% year-on-year in the fourth quarter of FY 2021 (April–June), according to estimates released by the Ministry of Planning and Economic Development.
October 10, 2021
Consumer prices increased 1.14% over the previous month in September, following August's 0.07% rise.