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Logistics (MENA) 
Our FX reserves inched up in October
An additional USD 132 mn was added to our FX stockpiles
PMI contracts at sharpest rate in five months
This is the 35th straight month that Egypt’s non-oil economy has been in contraction
THIS EVENING: Egypt’s PMI falls to five-month low in October + Reserves inch up again
Good afternoon, ladies and gents. The news cycle is reasonably brisk as we kick off a new workweek. THE BIG…
Economic growth almost halves to 3.8% in 22-23 –Planning Ministry
Egypt recorded growth of 3.8% in FY 22-23, with forecasts for FY 2023-24 at 4.2%
Fitch joins Moody’s, S&P in downgrading Egypt’s credit rating
The rating agency lowered its rating one notch to B- due to concerns over the currency and debt sustainability
Central Bank of Egypt holds interest rates steady
This was the last policy meeting before the presidential election in December, after which the CBE is expected to devalue…
Cabinet extends budget cutbacks through to June 2024 amid FX crisis
The cabinet brings back restrictions on USD government spending
You’re going to pay more at the pumps today
Prices have now risen 16-25% in 2023
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