Report
Research Team

Egypt Daily Coverage 05-09.03.2018

Banks offer USD 3.8bn credit to SMEs since Feb 2016
• Cabinet approves USD 7bn Russian industrial zone in East Port Said
• Govt receives USD 1.15bn final loan tranche from World Bank
• Non-government deposits increase 23% y/y to EGP 2.8tn as of end-Jan
• Urban CPI growth moderates to 14.4% y/y in Feb, below expectations
• Orascom, Engie and Toyota to build USD 400mn wind farm in Gulf of Suez
• EIB to lend EUR 1.2bn for transport, sanitation, SMEs projects
• Budget deficit to narrow to 8.5-8.8% of GDP in FY 2018/19 - FinMin
• Country, Saudi Arabia set USD 16bn investment fund to finance projects in Egypt
• Country, Saudi Arabia set up USD 10bn fund for new mega city in Sinai
• Foreign trade deficit widens 13.8% y/y to USD 3.3bn in Dec
• Non-oil private sector PMI edges down to 49.7 in February
• FX reserves jump by USD 4.3bn m/m to USD 42.52bn at end-February
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