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Monday, 14 November 2016

Al Borsa Polls Investment Community’s Outlook on Egyptian Economy Post-IMF Loan

Al Borsa’s readers see EGP at 12-14 to the greenback in the medium term. Al Borsa conducted a poll this week, gauging the views of what it said were more than 100 economic experts on the future of the Egyptian economy after the IMF’s approval of a USD 12 bn loan to Egypt. Here’s a brief overview of the results:

  • 54% of participants expect the USD to stabilize within an EGP 12-14 range in the medium-term;
  • 65% believe the IMF is correct to believe Egypt can attract around USD 9.4 bn in foreign direct investments during FY 2016-17;
  • 43% expect Egypt’s GDP growth to come in below 4% for the current fiscal year;
  • 41% of participants believe that the rising costs of production are the biggest challenge facing businesses in Egypt today.

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