Egypt: Still a bond market favourite
This week, we take a deep dive into one of the MENA region’s largest economies – Egypt. As one of the few countries in the region to post positive growth throughout the 2020/21 FY, Egypt is set to continue on this upward trajectory well into 2022. We look at how:
- Growth is anticipated to reach 5.2% in 2022; this compares with the 3.3% forecast for 2021, and suggests pre-pandemic momentum is returning.
- Obstacles remain; pro-borrowing policies are leading to high levels of debt servicing. This will exhaust government spending.
- Elsewhere, private sector economic activity looks set to make a strong rebound in 2022. The challenge remains broader-based sustainable growth.
Florence Eid-Oakden, Ph.D, Chief Economist
Abdelgadir Shukri, Analyst
The Country Views series shines the spotlight on specific developments in MENA countries, analysing them from a local perspective to deliver forward looking views for businesses and investors.
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