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Tuesday, 9 April 2019

Egypt’s talking heads occupied with El Sisi’s US visit, Ramadan prices, economic progress

News of President Abdel Fattah El Sisi landing in Washington dominated the nation’s airwaves last night. Pro-government expats welcomed the president holding Egyptian flags and pictures of the president outside the US Capitol, Al Hayah Al Youm’s Khaled Abu Bakr (watch, runtime: 2:28) and Hona Al Asema’s Lama Gebreil (watch, runtime: 4:38) separately reported from DC. Masaa DMC’s Eman El Hosary also took note (watch, runtime: 3:31). We have a little more in this morning’s Diplomacy + Foreign Trade, below.

Holding down commodity prices ahead of Ramadan: Cabinet Spokesman Nader Saad phoned in with Hona Al Asema’s Reham Ibrahim (watch runtime 3:52) and Al Hayah Al Youm Lobna Asal (watch, runtime: 4:31) to discuss the government’s strategy for keeping commodity prices in check as we head into Ramadan. At the top of the priority list: Ensuring better access for the needy and low income earners to state-run outlets that sell commodities at prices 10-15% below market. We have more in Diplomacy + Foreign Trade, below.

PMI, other indicators all positive: The Emirates NBD Egypt purchasing managers’ index, which gauges non-oil business activity (and which was in contraction territory again last month), is expected to cross a 50.0 reading in the coming months, a point which separates expansion from contraction, Sara Eid, the head of the Finance Ministry’s Fiscal Transparency & Citizen Engagement Unit, told Al Hayah Al Youm’s Lobna Assal (watch, runtime: 2:41). The indicator, which climbed to 49.9 in March, was just 0.1 points shy of expansion territory. It is one of several improving economic indicators alongside a recovering tourism sector, strong GDP growth and a reduction in the budget deficit, Eid added.

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