In the past several years Egypt carried out an IMF-backed reform programme to address the country’s fiscal position and improve the business and investment environment. These changes helped position Egypt to respond effectively to the challenges of the Covid-19 pandemic, balancing the need to mitigate the spread of the virus with preserving the economic activity necessary to the livelihoods of its population of more than 100m. The government implemented a series of financial stimulus measures and policy initiatives to assist businesses, which in turn responded by adapting quickly to the new circumstances across a variety of sectors discussed in detail in the report, including financial services, ICT, construction, industry, retail and energy. The report also focuses on the role of start-ups and SMEs, digitalisation, supply chain localisation and tourism in shaping Egypt’s economic recovery.
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