Egypt Economy

The onset of a Covid-19-induced global recession has affected both labour markets and financial flows around the world. At the confluence of these two are remittances, which have increasingly been among the top contributors to GDP in many emerging markets over recent decades. In April 2020 the World Bank predicted that remittances to low- and middle-income countries would see...

Egypt is working to establish itself as a leading destination for foreign direct investment (FDI). These efforts were spearheaded by the promulgation of a new investment law in 2017, which sought to significantly improve the legal framework for investors. While the impact of the legislation appeared to be muted, FDI inflows rebounded in both 2018 and 2019. While the government...

Prior to the onset of the global Covid-19 pandemic an ambitious programme of economic reform had succeeded in accelerating Egypt’s growth and reducing its fiscal deficit. The creation of a more business-friendly environment and the streamlining of the country’s bureaucracy has seen Egypt rise steadily in global rankings. This progress has, however, been disrupted by the...

Although the country’s constitution dates from 2014, Egypt has been a presidential republic since the overthrow of the Muhammed Ali dynasty in 1952. Prior to 2019 the president served an initial four-year term, which could then be followed by a second term. However, after a referendum in April of that year, the public voted in favour of...

Before the onset of Covid-19, Egypt’s economy was among the strongest performers in the MENA region. Business leaders are largely confident that a number of sectors stand to benefit from positive fundamental changes brought about by the pandemic. The country’s CEOs have made it clear that the crisis could lead to structural benefits in the...

Although trade flows among African states remain below their potential, an ambitious project is under way to accelerate economic integration and significantly expand intra-continental trade. Spearheaded by the African Union (AU), the African Continental Free Trade Area (AfCFTA) agreement was signed in March 2018 and aims to reduce both tariff...