Egypt Economic Outlook
October 30, 2018The economy performed well in the fourth quarter of FY 2018, with GDP growth remaining at the multi-year high recorded for Q3, primarily due to higher investment and exports. The current account deficit also fell to a near five-year low, while the unemployment rate declined to a seven-and-a-half year low. More recent signs have been mixed. After operating conditions in the non-oil private sector improved in July and August due to increased new business inflows, conditions deteriorated in September, although businesses grew more optimistic about prospects. Meanwhile, the recent investor retreat from emerging-market assets has not left Egypt completely unscathed: in October, the 11-year government bond yield hit highs last seen in July 2017.
Egypt Economic GrowthEconomic growth is expected to remain robust this fiscal year and next. Increased government investment spending, rising natural gas production, an improved regulatory environment 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. Met the why particular panelists expect GDP to expand 5.2% in FY 2019, which is unchanged from last month’s forecast, and 5.2% again in FY 2020.
Egypt Economy Data
5 years of Egypt economic forecasts for more than 30 economic indicators.
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|Bond Yield||17.85||0.0 %||Nov 15|
|Exchange Rate||17.91||0.0 %||Nov 15|
|Stock Market||1,317||0.53 %||Nov 15|
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Egypt Economic News
November 11, 2018
In October, urban consumer prices rose 2.59% from the previous month, more than September’s 2.53% increase.
November 5, 2018
The Emirates NBD Egypt Purchasing Managers’ Index (PMI) ticked down to 48.6 in October, compared to 48.7 in September.
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.