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Inflation to average 6.1% in CY 2020, 7.3% in CY 2021, report expects
Earlier, the minister revealed that two scenarios have been put in place that project what may happen as a result of the virus pandemic.
The report estimates that GDP growth in developed economies is expected to plunge to minus 5% in 2020 due to COVID-19 pandemic
Ministers of Planning, Immigration hold videoconference discuss investments with Egyptian businesspeople abroad
Decline due to coronavirus outbreak, lower-than-expected commodity prices, says report
Institute projects economic contraction in emerging markets this year, with global GDP growth of -2.8%
Interest rates to be cut by 200 bp by year end, to continue to drive down borrowing costs for local firms
Egypt achieved a primary surplus of 2% of GDP in FY18/19 compared to deficit of 3.5% in FY15/16
Lending to regain its pull as primary utilization shelters on lower interest rates and new tax law amendments on government securities; remains demand driven
Moreover, the most prominent issues the market faced last year was liquidity and low purchasing power. Real estate stakeholders expect that it will be one of the challenges that will face the market in the new year due to high prices of services with fixed wages.
The initiative will benefit about 96,000 factories that meet the conditions for the initiative: says deputy governor of the CBE
Overnight deposit rate to record 10.13% in 2020, and 9.58% in 2021
HSBC Economics Team remain positive on its view on the economic outlook for Egypt
State’s household debt to GDP remains unchanged at 7.1% in 2Q of 2019, says report
State also targets debt-to-GDP ratio of 80% in next FY, says MOF
Eased monetary policy is expected to mark the third rate cut this year, state’s budget to balance by 2025
Inflation getting down faster than expected, says Azour
SAR 61.4bn, estimated size of relevant entertainment market in the Kingdom by 2030, says Colliers
Investors’ shift from T-Bills to T-Bonds reflects positive change in their macroeconomic outlook of Egypt
Budget deficit projected to decrease to 8.2%, 7.2% of GDP in FY 2018/19-2019/20, respectively
Increase in fertility rates, securing water resources represent long-term economic challenges
Furthermore, Egypt’s external debt has increased steadily since 2015 and breached $100bn in Q1 of this year, the note explains.
Ratio aimed to reach 77.5% by end-June 2022
State’s public debt to record 85.2% of GDP in current FY, Focus Economics forecasts
Saudi Arabia is Egypt’s top lender with total debt of $8.7bn
Deepening and broadening of Egypt’s effective reforms is critical to underpin the positive outlook for growth and unemployment of the country, David Lipton, the International Monetary Fund (IMF) Acting Managing Director
The ongoing fiscal reforms managed to reduce the budget deficit to 8.2% in FY 2018/19, in continuation to the ongoing down trend from 9.8% in the FY 2017/18 and 12.5% in FY 2015/16.
The state’s household debt to the GDP slightly decreased to 7.2% in Q1 of 2019, compared to 7.4% in the same period of 2018, the report added.
Education, health sectors have yet to benefit from reforms’ freed-up resources, says report
Likelihood of renewed social instability, reform reversal is low given improved economic prospects