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Sunday, 13 November 2016

Egypt’s economy to begin “roaring,” Werr writes

Hear, hear, Mr Werr: “Egypt’s economy will quickly begin roaring ahead at speeds we haven’t seen in a decade,” writes Patrick Werr in his weekly column in The National following the government’s reform measures. Werr says Egypt’s anticipated “J Curve” recovery never happened after 2011 “partly because of security concerns but mostly because the central bank … began pegging the currency at unrealistic levels.” He says a close parable to what we might expect is Egypt’s accelerated growth after 2004. One shorter term prediction he makes: October’s PMI decline should be “the last month we hear such painful news.”

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