Egypt

The IMF, in a report issued in November 2018, forecast GDP would expand by approximately 5.3% in FY 2018/19, increasing over the 4.2% expansion seen a year earlier and marking the highest rate of annual growth since 2008. This was supported by figures released by the Central Bank of Egypt (CBE), which put year-on-year GDP growth at around 5.3...

Despite the instability that has rocked the MENA region in recent years, the Egyptian government has pursued a consistent diplomatic programme to strengthen ties with major Gulf players and improve border security. While these policies have been successful, the challenges that still face Egypt and the region will take time to disappear....

Five years after Egypt began to implement a comprehensive reform of its economy, the nation’s macroeconomic indicators are showing sustained improvement. However, while accelerating growth and a narrowing fiscal deficit have vindicated the government’s austerity measures, a high inflation environment continues to place pressure on the budgets...

As the Central Bank of Egypt (CBE) has attempted to stabilise the country’s currency in recent years, the banking sector has been placed in a challenging position. At the macro level, an overvalued Egyptian pound following the 2011 revolution acted as a brake on investment and undercut economic growth, with the consequence being a reduced...

In the three decades before the 2007-08 global financial crisis, the world’s financial networks became increasingly interconnected. Financial system regulatory convergence, the growing penetration of World Trade Organisation rules and the creation of currency unions, such as the euro, resulted in a surge in cross-border capital flows....