The Report: Egypt 2017

A process of fiscal reform is well under way, a long-awaited legal framework aimed at attracting new investment is almost in place, a Mediterranean gas find promises to nearly double the nation’s gas reserves and, other than some unrest in the remote Sinai Peninsula, the country has enjoyed a period of political stability following the turbulence of 2011-13. However, some obstacles to growth remain in the form of a stubborn fiscal deficit and a troubled currency, the flotation of which threatens to raise the cost of living for importers and households, many of whom are currently struggling with price increases on basic items.