A recently discovered gas field in Egypt – one of the world’s largest – is on track to begin production by the start of next year, which should quickly ease the country’s reliance on energy imports.
Egypt
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Economic update | More funding in the pipeline as Egypt’s economic reforms yield results
31 Oct 2017
Egypt is continuing its programme of fiscal consolidation, exchange rate liberalisation and pro-investment reform, with the country expected to receive another multibillion-dollar tranche of funds from creditors following a year-end review.
Egypt’s IT sector is seeing an increase in staffing, amid a surge in hiring by multinationals that are expanding operations in the country.
Egypt’s microfinance segment is gaining new momentum thanks to central bank and government initiatives.
Several major multinational manufacturers have announced plans to expand production in Egypt and use the country as a regional manufacturing base on the back of an improving macroeconomic outlook.
Egypt’s long-awaited investment law is set to be implemented in the coming months, potentially catalysing further growth in recovering foreign direct investment (FDI).