The introduction of a flexible exchange rate in November 2016 was part of the loan agreement with the IMF. The international organisation had advocated for the move as a means of stabilising the economy and alleviating a shortage of US dollars – an acute concern for a country reliant on imports. While the depreciation initially brought higher inflation, the move facilitated foreign investment…
Recent efforts to fortify and diversify the economy proved to be fortuitous given the emergence of the Covid-19 pandemic, which had severe effects on economies around the world as hospitals reached capacity, business activity slowed, and movement restrictions were placed on people and goods. The reforms provided Egypt with a more secure economic base for resilience in the face of external shocks,…
The Egyptian economy has steadily expanded in recent years on the back of extensive reforms aimed at correcting macroeconomic imbalances, attracting investment and reducing the fiscal deficit. Indeed, the country’s GDP grew by 5.6% in 2019, up from 5.3% in 2018 and 4.1% in 2017, according to the IMF. The rate of expansion in 2019 outpaced Egypt’s North African counterparts: the national GDPs of…
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– Global food prices have risen to 10-year highs, according to the UN – Despite increased production, the cereal stocks-to-use ratio is decreasing – Emerging markets are among the most vulnerabletosupply chain disruptions and shortages – Many see boosting local capacity and innovation as the solution Despite an increase in crop production and international trade following…
The global oil industry had yet to recover from the price crash of 2014-15 by the time the pandemic hit in early 2020, which meant that upstream operators and service providers were already grappling with cost-related challenges and falling profit margins. The pandemic-induced shock to the global oil market served to exacerbate these trends and forced companies to reappraise expenditure plans and…
Egypt is well placed to be a centre for trade in many sectors, and its significant oil and gas deposits – combined with efforts to modernise the industry and attract investment – make it a potential energy leader in the region. At the same time, while the mining industry accounts for around 0.5% of the country's GDP, it is set to be one of the fastest-growing and most strategically important…
While the Covid-19 pandemic severely impacted economies around the world as hospitals reached capacity, business activity slowed, and restrictions were placed on the movement of people and goods, recent reforms provided Egypt with a more secure economic base for resilience in the face of crisis. The initial shift to the digital sphere by most businesses caused a surge in demand for ICT services,…
Taking place from 9 – 11 January 2022 at the Egypt International Exhibition Center, CHEMLAB will connect international, regional and local companies, business leaders, innovators, decision and policymakers for face-to-face business conversations crucial to accelerating investment and trade across the chemicals and laboratory equipment value chain in Egypt, North Africa and the Middle East. Date:…
