Egypt Economy

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The Egypt Vision 2030 strategy is more of a statement of broad economic intent than a precise roadmap. However, against the backdrop of the global Covid-19 pandemic and with government policy focused on short-term mitigation efforts, the document provides as a useful reminder of the nation’s long-term economic ambitions. Launched in 2016, the strategy aims to create a “...

The onset of a Covid-19-induced global recession has affected both labour markets and financial flows around the world. At the confluence of these two are remittances, which have increasingly been among the top contributors to GDP in many emerging markets over recent decades. In April 2020 the World Bank predicted that remittances to low- and middle-income countries would see...

To what extent will the global outbreak of Covid-19 affect Egypt’s economic progress?

Prior to the onset of the global Covid-19 pandemic an ambitious programme of economic reform had succeeded in accelerating Egypt’s growth and reducing its fiscal deficit. The creation of a more business-friendly environment and the streamlining of the country’s bureaucracy has seen Egypt rise steadily in global rankings. This progress has, however, been disrupted by the...

What are the key economic priorities following completion of the IMF-backed reform programme?

 

Although the country’s constitution dates from 2014, Egypt has been a presidential republic since the overthrow of the Muhammed Ali dynasty in 1952. Prior to 2019 the president served an initial four-year term, which could then be followed by a second term. However, after a referendum in April of that year, the public voted in favour of...

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