Business Today Egypt (BT) July - August 2021

In Brief Egypt
Egypt to offer Administrative Capital for Urban Development on
EGX within 2 years
Egypt has a plan to put the Administrative Capital
for Urban Development (ACUD) on the stock
exchange in the upcoming period, according to the
Egyptian President Abdel Fattah El-Sisi.
This came during his speech at the opening of a
number of residential projects in Badr City.
Sisi said: “We will offer the company on the stock
exchange at the earliest opportunity. The solvency in
the company’s fund is LE 100 billion. We are talking
about liquid funds amounting to LE 100 billion for
the Administrative Capital Company.”
“This is another pure idea to manage our
capabilities and resources, and the state will not
pay a penny, and I imagine that during the next
two years, after it was put on the stock exchange,
the company’s assets exceed LE 3 and 4 trillion,
and this applies to El Alamein and other cities,” he
continued.
Egypt’s trade deficit increases 10% to $3.34B in May
Egypt’s trade deficit rose 10% in May 2021, recording
$3.34 billion, compared to $3.04 billion in the same month
of 2020, according to the state’s statistics agency CAPMAS.
In its monthly bulletin on foreign trade data, CAPMAS
said exports hiked 80.3% to reach $3.11 billion in May
2021, compared to $1.72 billion during the same month
of 2020.
The bulletin attributed the increased exports to the rise in
the exports of various commodities, such as: plastics in their
primary forms by 96.6%, pasta and various food preparations
by 81.4%, and fresh fruits by 70.9%.
Meanwhile, exports of other commodities witnessed a
decrease in May, such as: fertilizer by 48.1 %, dairy products
by 29.2%, furniture by 19.8% , and perfumes and cosmetics
by 9.4% .
Moreover, the bulletin showed an increase of 35.4% in
the imports to hit $6.45 billion in May of 2021, compared to
$4.76 billion in the same month of 2020.
July-August 2021
12 www.BusinessTodayEgypt.com