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Published: 26-02-2018
According to the World Bank, economic activity is expected to be robust, as Egypt sustains the momentum of reforms, removal of distortions in foreign currency markets, and the government’s fiscal consolidation commitment. The current adopted industrial licensing law and further improvement in the regulatory framework are expected to improve the business climate and push growth over the medium term, if implemented effectively. World Bank forecasts the economy to grow by 4.5% in FY 2017/18 (refer Table 1) driven by a
resilient private consumption, although partially diluted by high inflation over the short term. A pick-up in investment, merchandise exports recovery, and tourism are factors that are likely to contribute positively to economic growth. Since it floated its local currency in late 2016, Egypt has registered improved macroeconomic indicators.
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