Industry in Egypt
Egypt - IndustryThe 2020 fiscal year, which started in July, began on a positive note. The non-oil private sector PMI crossed into expansionary territory in July for the first time in three months, boosted by an increase in output, which was itself buoyed by increased new orders from abroad. Moreover, Egypt received the last IMF tranche on 5 August, amounting to USD 2 billion as part of the now-ending three-year USD 12 billion support program. On the other hand, a 5 August terror attack in Cairo that killed dozens of people shook the tourism sector. This all comes after annual GDP growth accelerated in Q4 FY 2019, likely supported by strong fixed investment, thanks to the government’s infrastructure drive, and healthy private consumption, as the unemployment rate dropped to an over one-decade low in the quarter. Meanwhile, the fiscal deficit as a percentage of GDP dropped by over one percentage-point in the first 11 months of FY 2019.
Egypt - Industry Data
|Industrial Production (annual variation in %)||0.6||-4.8||2.3||-0.1||2.1|
5 years of economic forecasts for more than 30 economic indicators.
Egypt Industry Chart
Source: Ministry of Planning.
|Bond Yield||14.50||0.0 %||Sep 04|
|Exchange Rate||16.52||0.0 %||Sep 04|
|Stock Market||1,376||0.53 %||Sep 04|
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August 22, 2019
The Central Bank of Egypt (CBE) slashed all interest rates by 1.5 percentage points at its monetary policy meeting on 22 August, catching most market analysts by surprise.
August 8, 2019
Consumer prices increased 1.8% in July compared to the previous month, contrasting the 0.8% decrease in June.
August 5, 2019
The Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rose to 50.3 in July from 49.2 in June.
July 11, 2019
The economy expanded 5.7% year-on-year in the fourth quarter of FY 2019, which ran from April to June.
July 11, 2019
The Central Bank of Egypt (CBE) left all interest rates unchanged at its monetary policy meeting on 11 July, as had been expected by most market analysts.