Efforts to overhaul the country’s hydrocarbons regulations, however, have been stymied by political instability, while the development of energy projects has been slowed by social unrest across the country. A revised hydrocarbons code has yet to be passed by Parliament and the question of whether to tap into non-traditional oil and gas reservoirs has increasingly become a key issue of debate....
Africa Energy
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Tunisia has successfully navigated the difficulties of the post-revolutionary period by capably establishing robust democratic institutions. However, the country faces macroeconomic challenges since the 2011 revolution. Budgetary pressures, combined with a devaluation of the dinar and a rise in the level of business informality, have made the current environment a complex one.
Aside from the member states of the Organisation of the Petroleum Exporting Coun¬tries, Egypt is Africa’s largest oil producer, as well as its third-largest producer of dry natural gas, according to the US Energy Information Administration. Despite the abundance of its natural resources, how¬ever, the country faced an energy crisis following the 2011 revolution, marked by frequent blackouts...
As Egypt is the most-populous Arab nation and third-most populous in Africa, population pressure is driving the nation’s economic agenda, with an estimated 3.5m young Egyptians entering the labour force by 2023. Recent years have seen an array of public initiatives aimed at encouraging private sector activity, but these remain hampered by a challenging economic backdrop and structural hurdles.
Lacking the hydrocarbons reserves of...
A number of key developments in the country are expected to support economic growth in the coming years. A rapidly improving business environment and infrastructural base, the gradual liberalisation of the local currency and increased investment into export-oriented industries are all set to raise living standards and drive the emergence of a large national middle class.