As Egypt enters 2018, a newly liberalised currency and the recent implementation of a much-anticipated investment framework have left it well positioned for continued economic expansion: the IMF expects the country’s GDP growth to reach 6% over the medium term. However, a structural fiscal deficit, high unemployment levels and socio-economic...
Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...
The implementation of Egypt’s new investment law in 2017 was broadly welcomed as an important advance in the country’s bid to make itself more attractive to domestic and foreign capital. However, the six-place decline of Egypt in the World Bank’s “Doing Business Report 2018” is a concern for a government keen to kick-start private sector...
For the past year, discussion surrounding Egypt’s monetary policy has been almost completely dominated by a single criterion: a spiralling inflation rate which is having a deleterious effect on business growth, as well as on the lives of ordinary citizens. After an elevated, but manageable, average inflation rate of just over 10% going back to...
Decades of growth in trade and foreign investment have seen the economies of the world become more interconnected and interdependent than ever before. The production of goods and, increasingly, the provision of services has become fractured across borders as corporations create and integrate into regional and global value chains. These trends...
In comparison to the years before 2011, Egypt’s post-revolutionary period has been defined by political upheaval and dynamism. The country has adopted a new constitution, moved to a unicameral legislature, had two presidents – Mohamed Morsi, who was appointed in the country’s first free presidential election and departed two years later in...
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