EconSource: Egypt’s urban consumer price inflation rises to 10.1 percent
According to Egypt’s official statistics agency CAPMAS, urban consumer inflation rose to an annual 10.1 percent in December from 9.1 percent the previous month. Inflation spiked after the government slashed energy subsidies in July but fell in November from a peak of 11.8 percent in October. The central bank has kept interest rates steady after raising them in July to counter subsidy cuts, but is due to make its next interest rate decision next week.

[Reuters, 1/8/2015]

Morocco fourth quarter growth slows to 2.7 percent

According to the government planning agency, Morocco’s economic growth slowed to 2.7 percent in the fourth quarter of 2014 from a year ago, but could reach 4.1 percent in the first quarter of 2015 as agricultural output picks up. Bad weather diminished Morocco’s agricultural output from 9.7 million tons in 2013 to 6.7 million tons of grain in 2014. The output is expected to rise again in 2015 after improved rainfall. [Reuters, 1/8/2015]

Tobruk cabinet approves 2015 subsidies budget

The cabinet of the Al-Thinni government says it has approved spending nearly half a billion dinars for subsidies in 2015, on top of a further arrangement to provide some ministries with over LD 200 million ($160m). Approvals include Al-Thinni’s economic minister’s request for LD 490 million ($392m) to cover costs related to contracts and other commodities, the interior ministry request for LD 171 million ($137m) to procure “high-end equipment for detecting weapons and drugs,” the justice minister’s request for LD 35 million ($28m) to spend on the police force, and LD 250,000 ($200,000) to cover the running costs of the Civil Aviation Authority. Despite these spending approvals, it is unclear if the Tobruk government has the ability to gain access to these funds from the Central Bank. [Libya Monitor, 1/8/2015]

Algeria would achieve growth of 7 percent in 2019

The Algerian prime minister announced that the government will attempt to strengthen its economic diversification policy in order to achieve 7 percent growth by 2019. The plan includes an acceleration of the political transformation and diversification of the economy by relying on the 2015-19 Five-Year Plan and a framework of consultation and dialogue according to the National Economic and Social Growth Pact. The government’s goal is to turn the national economy toward production and wealth creation to achieve annual growth of 7 percent and to maintain the downward trend of the unemployment rate which has already decreased from 29.8 percent in 2000 to 9.8 percent in 2014. [Medafrica, 1/8/2015]

Also of Interest:
It’s the Economy, Tunisia | Project Syndicate
GB Auto aims to invest $1.5 billion in vote of confidence for Egypt | Reuters
Egypt’s Suez Canal revenues rise 6.8 percent in 2014 | Ahram Online
Iran is ready to support development in Yemen | SABA