Egypt Construction Market Report 3Q 2023
Economic overview
Dashboard
Figure 01
Quarterly values are average values of parameters over each quarter.
Data obtained from www.tradingeconomics.com, www.cbe.org.eg/, www.egx.com.eg and www.investing.com
EGP to USD
During 3Q 2023, USD exchange rate remained stable against the Egyptian pound recording an average of EGP 30.9. It is expected that the USD exchange rate will increase against the EGP in the next quarter.
EGP to EUR
During 3Q 2023, Euro exchange rate remained stable against the Egyptian pound recording an average of EGP 33.6. It is expected that the Euro exchange rate will increase against the EGP in the next quarter.
EGP to GBP
During 3Q 2023, GBP exchange rate remained stable against the Egyptian pound recording an average of EGP 33.46. It is expected that the GBP exchange rate will increase against the EGP in the next quarter.
Egyptian stock market
Data obtained from www.investing.com
The EGX 30, the Egyptian stock market indicator, measures the performance of the top 30 traded companies on the Egyptian stock exchange. During 3Q 2023, the EGX 30 indicator increased, recording an average of 18,116.0 points compared to 17,263.8 points in 2Q 2023.
Central bank interest rates
Consumer price index (CPI)
Decisions regarding interest rate values are made by the Central Bank of Egypt (CBE). The official interest rate is the overnight deposit rate. During 3Q 2023, the interest rate remained stable compared to 2Q 2023, reaching 18%. However, it is expected to increase during the next quarter.
The Consumer Price Index (CPI) measures increase in prices paid by consumers for everyday goods and services. During 3Q, the CPI increased to an average of 177 index points compared to 171 in the previous quarter. It is also expected to increase during the next quarter.
Foreign exchange reserves
Foreign exchange reserves in Egypt are reported by the CBE and are generally used to finance the balance of payments and to control exchange rates.
During 3Q 2023, Egypt’s foreign exchange reserves increased slightly, recording an average of USD 34.8 billion. Foreign exchange reserves are expected to gradually increase in the next quarter.
The August and September values are estimated since they were not issued at the date of publishing the report.
Almaza City Centre, Cairo, Egypt — Gleeds provided Quantity Surveying/Cost Management services
