Recently, several PPP investment opportunities have been launched in the region to ensure the delivery of key services and drive socio-economic development. Over 240 PPP projects worth an estimated US$223 billion are under development in the MENA region, focusing on the healthcare, infrastructure, power, and construction sectors. Projects worth $3.27 trillion are in planning and pre-execution phase…
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Egypt’s varied history, straddling multiple geopolitical and economic spheres, continues to shape the country’s development. However, this does not come without challenges. Food security uncertainty stemming from Russia’s invasion of Ukraine in early 2022 is a particular headwind, in combination with associated issues like inflation and foreign exchange risk. Moreover, 29.7% of Egyptians sti
While the current constitution dates from 2014, Egypt became a presidential republic in 1952. Under a presidential republic, the president – who serves as the head of state – selects the Cabinet and the prime minister; Mostafa Madbouly has occupied the role of the latter since 2018. The president is elected by an absolute majority of voters and initially serves a four-year term, which, conventionally,…
Despite a successful economic reform programme implemented in 2016, Egypt continues to grapple with a fiscal deficit. In FY 2019/20 Egypt recorded a deficit of LE462.8bn ($29.4bn), the highest since the start of the 2016 reform initiatives. While this figure contracted to LE432.1bn ($27.5bn) in FY 2020/21, it is forecast to expand to LE475.5bn ($30.2bn) in FY 2021/22, according to a December 20201…
Egypt was one of the few economies to witness positive GDP growth in the first two years of the Covid-19 pandemic, fuelled in part by strong consumer spending. According to a November 2021 report from Fitch Solutions, real household spending expanded by around 7% in both 2020 and 2021 – despite the widespread impact of the pandemic, which hit key sectors such as tourism particularly hard. This performance…
Many of the government of Egypt’s recent reforms have centred around modernisation and digitalisation across all areas of the economy. Egypt Vision 2030 lays the groundwork for a digital transformation, and the Sustainable Agriculture Development Strategy 2030 focuses this shift on the agriculture sector. With climate change exacerbating water scarcity and food insecurity, it will be important for…
Financial technology (fintech) firms are gaining market share that was formerly the preserve of established remittance service providers. Remittances have grown in importance in recent decades and now constitute the largest source of foreign income for many developing economies. They also tend to be countercyclical, increasing during economic downturns or natural disasters when other capital flows…
Egypt has invested heavily in improving transport, housing and energy infrastructure in recent years. The government has been moving to establish new railway lines, renovate seaports and airports, and improve road networks (see Transport chapter). It has built new power plants, established new urban areas and expanded the country’s strategic Suez Canal. Much of the government’s current strategy…
