Economy

In March 2019 Prime Minister Mostafa Madbouly issued a set of regulations to govern Egypt’s new sovereign wealth fund (SWF), a LE200bn ($11.2bn) pool of assets wholly owned by the Egyptian government, created as a tool to contribute to the nation’s sustainable economic development. Its formulation has been a slow process. Although plans for...

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...

Egypt has long been central to the development of the MENA region. As a major centre of cultural output and political thought, the country continues to be a key influence within the Arab world. While the oil riches of the Gulf have changed the equation somewhat in recent decades, Egypt still remains one of the most significant actors in the...

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....