External Debt in Egypt
Egypt - External DebtEconomic growth likely slowed for the second consecutive quarter in Q2 FY 2020, which ran from October to December, as suggested by a decrease in the quarter’s non-oil private sector PMI reading compared to the previous quarter. Weak demand hampered non-oil private sector activity, contributing to falling employment in November and December. Moreover, merchandise export growth was downbeat in October–November, while imports tumbled, suggesting domestic demand was weak in Q2. Turning to Q3, the non-oil private sector PMI dropped to the lowest level in over two-and-a-half years in January, mainly due to fewer export orders. On a brighter note, international reserves, which have been climbing since Egypt began the three-year IMF program in 2016, rose to USD 45.5 billion in January.
Egypt - External Debt Data
|External Debt (% of GDP)||15.1||14.4||16.7||33.7||36.9|
5 years of economic forecasts for more than 30 economic indicators.
Egypt External Debt Chart
Source: Central Bank of Egypt and FocusEconomics calculations.
|Bond Yield||13.70||0.0 %||Dec 31|
|Exchange Rate||16.04||0.0 %||Jan 01|
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February 20, 2020
At its monetary policy meeting on 20 February, the Central Bank of Egypt (CBE) left all interest rates unchanged for the second consecutive meeting.
February 15, 2020
Consumer prices increased 0.7% in January from the previous month due to higher food and beverage prices, contrasting the 0.2% month-on-month decrease in December, according to a monthly inflation note released on 15 February.
February 5, 2020
Egypt’s Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, dropped to 46.0 in January from 48.2 in December, indicating a worse deterioration in business conditions in the sector over the previous month and the lowest reading in over two and a half years. Contributing to the downturn in January was the fastest contraction in output among Egyptian businesses in three years, which was largely due to a sharp fall in new orders, partly due to softer export demand for the fourth consecutive month.
January 16, 2020
The Central Bank of Egypt (CBE) held interest rates steady at its monetary policy meeting on 16 January, leaving the overnight deposit rate at 12.25%.
January 9, 2020
Consumer prices decreased 0.2% in December in month-on-month terms, after decreasing 0.3% in November.