Egypt

Egypt has been making impressive progress in straightening up its balance sheet in recent months. Steep cuts in energy subsidies coupled with a drop in world oil prices have given the Middle East’s most populous country some fiscal breathing space, following three years of increasing budget deficits, mounting debt and reduced foreign currency reserves. 

After years of uncertainty and turbulence, Egypt’s economy is beginning to show some signs of recovery, with a marked rise in business confidence helping to strengthen indicators in both capital markets and the broader economy. 

For the Egyptian economy, good news has been tough to come by in recent years. Three years after the January 25 revolution, the continued fallout from broader socio-political instability has brought wave after wave of grim developments, whether it be worker strikes, rising deficits or shrinking reserves. 

So it came as something of a relief when, speaking on the sidelines of a...

The government in Egypt is expecting a recovery of its tourism sector by next year after the latest data showed the tide may be turning for an industry that has been hit hard by domestic instability over the past three years.

Hopes are rising that a $4bn project to widen the Suez Canal will provide Egypt with a boost in construction activity, while also significantly raising revenue in the longer term.

With its significant reserves of liquefied natural gas (LNG), Egypt has been a key exporter for regional consumers over the past decade but with growing domestic consumption and a number of fiscal constraints, the country has been looking to secure additional supplies by expanding LNG capacity.