{"id":641169,"date":"2017-09-14T04:11:06","date_gmt":"2017-09-14T04:11:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/14\/what-were-tracking-on-14-september-2017\/"},"modified":"2017-09-14T04:11:06","modified_gmt":"2017-09-14T04:11:06","slug":"what-were-tracking-on-14-september-2017","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/14\/what-were-tracking-on-14-september-2017\/","title":{"rendered":"What we\u2019re tracking on 14 September 2017"},"content":{"rendered":"<p><strong>The report card is in:<\/strong> The economy grew 4.2% in FY2016-17, according to figures released by the Planning Ministry and <a href=\"http:\/\/af.reuters.com\/article\/africaTech\/idAFL5N1LU2PP\">covered by Reuters<\/a>. Growth in the fourth quarter of the fiscal year came at 5%, up from 4% a year earlier. The final figures appear to be an upward revision from the <a href=\"https:\/\/enterprise.press\/stories\/2017\/09\/05\/what-were-tracking-on-05-september-2017\/\">preliminary figures<\/a> released about ten days ago showing fourth quarter GDP growing by 4.9%.<\/p>\n<p>Meanwhile,<strong> Egypt\u2019s funding gap for the current fiscal year is expected ring in at about USD 12 bn<\/strong>, Finance Minister <a href=\"https:\/\/dailynewsegypt.com\/2017\/09\/13\/egypt-funding-gap-hit-12-14bn-current-next-fiscal-year-finance-minister\/\">Amr El Garhy tells Daily News Egypt<\/a>. This is a significant reduction from the USD 34-35 bn the ministry had projected for FY2017-18 when it first launched the economic reform program last year, said El Garhy. The funding gap for next fiscal year should hover at around USD 12-14 bn, he added.<\/p>\n<p><strong>This comes as CAPMAS reported that Egypt\u2019s non-oil industrial output jumped 29.2% y-o-y in 4Q2016 to EGP 114.3 bn<\/strong>,<a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=13092017&id=759d25ac-d930-4f02-891a-7a3a7738b6bc\">Al Shorouk reports<\/a>. Food products, which accounted for 13.7% of overall output, grew to EGP 25.2 bn, while steel production rose to EGP 10.8 bn.<\/p>\n<p><strong>We\u2019re making a cameo in the investigation into US President Donald Trump\u2019s ties to Russia:<\/strong> Democratic lawmakers are investigating whether former national security adviser Michael Flynn secretly promoted a US-Russian project to build nuclear reactors in the Middle East, including in Egypt. Flynn had reportedly flown to Egypt in 2015 to get the government to slow the signing of the Dabaa nuclear contracts to consider the alternative US-Russian proposal to have its nuclear program run by a consortium of companies from the US, Russia and other European nations and funded by the GCC. We have more on the story in the Speed Round.<\/p>\n<p><strong>President Abdel Fattah El Sisi will be attending the opening ceremony of the Alliance for Financial Inclusion's 2017 Global Policy Forum<\/strong> in Sharm El Sheikh, which is being hosted by the Central Bank of Egypt. At dispatch time, the president was scheduled to give a keynote address. Central bank governor Tarek Amer and Prime Minister Sherif Ismail will also be speaking at the opening ceremony. Today's session is set to see the signing of the Financial Inclusion in the Arab Region Initiative (FIARI). A pre-recorded speech by Deputy Governor of the Bank of England and the incoming director of the London School of Economics Nemat Shafik is also on the agenda, <a href=\"https:\/\/ent.news\/2017\/9\/547.pdf\">which you can view (pdf)<\/a>.<\/p>\n<p><strong>A meeting in Sudan today of technical experts from Egypt, Sudan, and Ethiopia <\/strong>to <a href=\"http:\/\/english.ahram.org.eg\/NewsContentP\/1\/277013\/Egypt\/Egypt,-Sudan-and-Ethiopia-experts-meet-Thursday-to.aspx\">discuss the impact<\/a> of the Grand Ethiopian Renaissance Dam on downstream countries might be a little frosty after <a href=\"http:\/\/sudantribune.com\/spip.php?article63498\">Egyptian security forces reportedly arrested a group of Sudanese miners<\/a>. It\u2019s the second time miners have been arrested on Egyptian territory in under a year and comes with relations at a low point. Tensions continue to simmer over renewed territorial claims by Sudan over the Egypt\u2019s Halayeb and Shalatin regions and a boycott by Sudan of Egypt\u2019s agriculture goods.<\/p>\n<p><strong>Further afield: Is the bull run in the US of A coming to an end?<\/strong> With global equity and fixed income markets on a tear, \u201cFund managers are hoarding cash and buying protection against turbulence despite the S&P 500 rally this week becoming the second-strongest bull run in US history,\u201d the <a href=\"https:\/\/www.ft.com\/content\/d4a94d62-97ec-11e7-a652-cde3f882dd7b\">Financial Times warns<\/a>, saying Pimco and Pershing Square are \u201cbuying protection against turmoil\u201d and Bridgewater\u2019s Ray Dalio told an industry event last week that the world\u2019s largest hedge fund group is \u201creducing our risk.\u201d<\/p>\n<p>Finally, as we slide into the weekend, the only thing that leaves us more conflicted than the approach of another birthday (oddly enough, two of us share the same day) is the notion that that means we\u2019re \u201cgetting old.\u201d As the New York Times put it this morning: \u201cMost people wouldn\u2019t say that a 38-year-old qualifies, but once you pass the median age of 37.8, you may statistically be considered \u2018old.\u2019\u201d To help cope, read the Times\u2019 \u201c<a href=\"https:\/\/www.nytimes.com\/2017\/09\/12\/smarter-living\/aging-well.html\"><strong>Feeling Older? Here\u2019s How to Embrace It<\/strong><\/a>\u201d and then head back to the archive for \u201c<a href=\"https:\/\/www.nytimes.com\/2017\/02\/08\/well\/move\/lessons-on-aging-well-from-a-105-year-old-cyclist.html\"><strong>Lessons on Aging Well, From a 105-Year-Old Cyclist.<\/strong><\/a>\u201d consider adding weight lifting to your regimen: The Telegraph tells us it\u2019s \u201c<a href=\"http:\/\/www.telegraph.co.uk\/health-fitness\/body\/why-lifting-is-the-new-running-for-the-over-40s\/\"><strong>the new running for the over-40s<\/strong><\/a>,\u201d Men\u2019s Health says folks will get <a href=\"http:\/\/www.menshealth.com\/fitness\/the-40-year-olds-weight-lifting-playbook\">the most bang for their buck<\/a> from the \u201cbig\u201d lifts, and one researcher found that \u201c<a href=\"https:\/\/www.unm.edu\/~lkravitz\/Article%20folder\/ageresistUNM.html\">resistance training can reverse aspects of aging at the gene level<\/a>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The report card is in: The economy grew 4.2% in FY2016-17, according to figures released by the Planning Ministry and covered by Reuters. Growth in the fourth quarter of the fiscal year came at 5%, up from 4% a year earlier. The final figures appear to be an upward revision from the preliminary figures released [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-641169","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"017a009e-ee7c-484d-9ec2-ffb5f7cdf1f6","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[641167],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What we\u2019re tracking on 14 September 2017 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/14\/what-were-tracking-on-14-september-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What we\u2019re tracking on 14 September 2017\" \/>\n<meta property=\"og:description\" content=\"The report card is in: The economy grew 4.2% in FY2016-17, according to figures released by the Planning Ministry and covered by Reuters. 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On a quarterly basis, external debt increased 4.3% from USD 129.2 bn in the second quarter.Blame lower\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/169.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":652578,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/15\/what-were-tracking-on-15-january-2017\/","url_meta":{"origin":641169,"position":1},"title":"What we\u2019re tracking on 15 January 2017","author":"enterpriseam admin","date":"15 January 2017","format":false,"excerpt":"It looks like it\u2019s the Finance Ministry\u2019s week in the spotlight between a presser Finance Minister Amr El Garhy is due to hold today and the start of the roadshow for Egypt\u2019s eurobond issue tomorrow.Egypt\u2019s eurobond roadshow kicks off on Tuesday, 17 January with joint lead managers BNP Paribas, Citi,\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":632849,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/21\/what-were-tracking-on-21-february-2018\/","url_meta":{"origin":641169,"position":2},"title":"What we\u2019re tracking on 21 February 2018","author":"enterpriseam admin","date":"21 February 2018","format":false,"excerpt":"Amr El Garhy is projecting revenues in FY2018-19 will reach EGP 1 tn, a first in the country\u2019s history, Finance Ministry sources told Al Mal on Tuesday. The statements come as the ministry has begun drafting the budget for the next fiscal year with the hope of introducing it to\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":640793,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/05\/what-were-tracking-on-05-september-2017\/","url_meta":{"origin":641169,"position":3},"title":"What we\u2019re tracking on 05 September 2017","author":"enterpriseam admin","date":"5 September 2017","format":false,"excerpt":"Welcome back, ladies and gentlemen. Sahel season is ending \u2014 and summer with it \u2014 and it\u2019s back to the grind for you and for the kiddies, with most private schools in Egypt heading back in between this morning and Sunday, 10 September. Traffic will get worse over the coming\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641332,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/19\/government-looks-towards-gdp-growth-levels-of-5-5-25-this-fiscal-year-el-garhy\/","url_meta":{"origin":641169,"position":4},"title":"Government looks towards GDP growth levels of 5-5.25% this fiscal year - El Garhy","author":"enterpriseam admin","date":"19 September 2017","format":false,"excerpt":"The government targeting GDP growth of 5-5.25% in FY2017-18, Finance Minister Amr El Garhy said, Reuters reports. Speaking yesterday on the first day of Euromoney Egypt (pdf), the minister pointed to the fiscal and economic policy changes since November 2016, including the EGP float and subsidy phase-out program, which he\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":632390,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/11\/what-were-tracking-on-10-february-2018\/","url_meta":{"origin":641169,"position":5},"title":"What we\u2019re tracking on 10 February 2018","author":"enterpriseam admin","date":"11 February 2018","format":false,"excerpt":"It\u2019s an exceptionally packed issue this morning, folks, as a heavy news day on Thursday gave birth to a very busy weekend at home and abroad. Look for worthy news straight all the way down to What We\u2019re Tracking Today. Finance Ministry delegation headed by Minister Amr El Garhy is\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/2\/1230.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=641169"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641169\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/641167"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=641169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=641169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=641169"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=641169"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=641169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}