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Non-oil private sector remains in contraction as inflation weighs on demand, dims business confidence
Egypt’s PMI fell to a three-month low of 48.1 from 48.5 in December
THIS EVENING: Weighed down by inflation, PMI contracts for the 38th month in a row
Good afternoon, folks, and happy Monday. The news cycle at home and abroad continues to be primarily led by macroeconomics…
CBE hikes rates for first time since August
The CBE expects inflationary pressures to persist due to geopolitical uncertainty, maritime trade disruptions, and fiscal consolidation measures
IMF cuts our growth outlook — again
The Fund also revised downwards its growth estimate for the last fiscal year to 3.8%
Egypt’s nail-baiting draw with Mozambique had our nation’s talking heads at the edge of their seats
Ahmed Moussa thanked a “point from the heavens” for the draw
Inflation eases for a third consecutive month to seven-month low
Inflation slowed to 33.7% in December driven by falling core inflation
Currency crunch and supply shortages see PMI flat in December
The country’s non-oil private sector has been in contraction for 37 consecutive months
A sneak peek of next fiscal year’s budget
The government sees the economy growing at a 4.7% clip in the coming fiscal year
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