Highlights from The Report: Egypt 2020
10 Aug 2020
Oxford Business Group has now launched The Report: Egypt 2020.
Analysing the prevalent economic trends, business sentiment and sectoral insights, the comprehensive analysis marks 18 years of OBG’s presence in the country. It comes at a time of significant economic uncertainty for the global economy, which has underscored the importance of in-depth, independent and accurate research for the global business community.
In spite of the challenging global economic headwinds resulting from Covid-19, Egypt’s resilient economy is expected to be the only one in the MENA region set to expand during 2020, according to the IMF’s latest projections.
The Report: Egypt 2020 tracks the progress of the country’s ambitious IMF-backed structural economic reform programme which began in 2016, having subsequently boosted Egypt’s growth, improved its fiscal standing and, as a result, ensured the economy was well positioned to weather the external shock which began earlier this year.
While there are a number of individual factors which contribute to this resilience; structurally speaking, the country’s highly capitalised banks and large, fast growing population will aid the economy during its recovery phase through guaranteeing sufficient liquidity and financing for companies of all sizes, and by maintaining long-term growth in consumer demand, respectively.
Other in depth coverage within the report includes analysis ongoing developments in Egypt’s energy and utilities sector, which has seen Egypt become the largest destination for FDI in Africa. The same chapter also looks at major initiatives underway to bolster Egypt’s water security for the population, agriculture and industry, as well the increase in solar energy as the country looks to provide 20% of its energy through renewable sources by the year 2022.
In spite of the pandemic, construction and infrastructure is set to remain buoyant, especially given the ongoing development of the New Administrative Capital and fourth stage of new cities as well as the expansion of industrial zones across the country that are expected to spread opportunities beyond the geographical proximity of Cairo.
Important structural issues are also at the forefront of public policy, such as the rollout of universal healthcare insurance, initiatives to enhance training and education opportunities for the population, while sharpening the focus on financial inclusion, and financing for small and medium-sized enterprises. In addition, OBG charts the growth witnessed in the country’s transport sector, buoyed by a raft of road, rail and port infrastructure projects which are helping to strengthen both international connectivity and urban mobility.
Other areas of the economy analysed include ICT and innovation industry, which is spearheading Egypt’s digital transformation, supported by automation and smart technologies. Alongside decisive government policy, these sectors’ initiatives in combination with social distancing necessities as a result of Covid-19, have led to an irreversible rise in online consumer activity, from e-commerce to online banking.
On a more macro level, with the recent ratification of the Africa Intercontinental Free Trade Area (AfCTA) agreement, the report maps out the steps being taken to make Egypt a logistics, manufacturing and energy hub in the region and gateway to Africa. In this context, President Abdel Fattah El Sisi shares his vision for Egypt’s regional role in the post-Covid-19 world, exploring how The AfCTA has the potential to contribute to renewed trade and economic growth on the continent in the wake of the Covid-19 pandemic.
Read The Report: Egypt 2020 for more insights into these topics and more, complemented by critical insights from key players across the public and private sectors.
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