Egypt Economic Outlook
June 4, 2019Economic growth ticked up in January–March from the prior period. While details are not yet available, higher government consumption likely supported the expansion, as reflected by the government’s fiscal accounts which show spending rose sharply in July–March compared to the same period a year earlier. Fixed investment also likely increased, given a large chunk of the government’s extra spending went on public investments. In addition, higher public wages, a lower unemployment rate and a moderation in inflation should have buoyed private spending. More recently, the non-oil private sector PMI rose above the 50-point mark that separates expansion from contraction in April for the first time in eight months. Meanwhile, on 17 May, the IMF announced it would shortly release the remaining USD 2 billion of the Egyptian government’s USD 12 billion financial support program.
Egypt Economic GrowthThe economy is seen accelerating slightly next fiscal year, which starts in July, primarily due to higher private and government consumption, while fixed investment is projected to continue growing rapidly. Still-fragile government finances, an uncertain global trading environment and internal security problems threaten the outlook, however. Met the why particular panelists expect GDP to expand 5.5% in FY 2020, which is unchanged from last month’s forecast, and 5.5% again in FY 2021.
Egypt Economy Data
5 years of Egypt economic forecasts for more than 30 economic indicators.
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|Bond Yield||16.05||0.0 %||Jun 13|
|Exchange Rate||16.76||0.0 %||Jun 13|
|Stock Market||1,351||0.53 %||Jun 13|
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Egypt Economic News
May 23, 2019
The economy expanded 5.6% year-on-year in January–March (FY2019 Q3), slightly faster than the 5.5% growth recorded in October–December.
May 23, 2019
The Central Bank of Egypt (CBE) left all interest rates unchanged at its monetary policy meeting on 23 May, as had been expected by most market analysts.
May 9, 2019
Consumer prices rose 0.5% in April compared to the previous month, down from the 0.8% increase in March.
May 5, 2019
The Emirates NBD Egypt Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rose to 50.8 in April from 49.9 in March, coming above the 50-threshold that separates expansion from contraction for the first time in eight months. The increase in April was driven by the first rise in output since November 2017.
April 11, 2019
Consumer prices rose 0.8% in March compared to the previous month, down from the 1.7% rise in February.