Back to the complete issue
Wednesday, 14 October 2020

Last night’s talk shows: IMF’s GDP growth forecast for Egypt + no lockdown plans

The talking heads had plenty to mull yesterday thanks to an active news cycle, but no single story dominated the conversation.

The IMF’s upwards revision of its forecast for Egypt’s GDP growth in the World Economic Outlook, which was released yesterday, earned airtime on Kelma Akhira (watch, runtime: 1:42) and Masaa DMC (watch, runtime: 2:30). We have chapter and verse on the report in this morning’s Speed Round, below.

Egypt being the Middle Eastern economy whose economy will grow this year was a focal point of International Cooperation Minister Rania Al Mashat’s speech at the G24 Ministers and Governors Meeting yesterday during the IMF and World Bank’s annual meetings. Our ability to eke out growth is largely thanks to large-scale infrastructure projects, including those with private sector participation, in electricity, renewable energy, water desalination, and social housing, Al Mashat told Yahduth fi Misr’s Sherif Amer. Meanwhile, on the funding side, Al Mashat called on international institutions to diversify their financing tools to give countries the support they need to recover from the pandemic (watch, runtime: 13:23). We also have more on Al Mashat’s participation in yesterday’s meeting in this morning’s Speed Round, below.

On the covid-19 front, Kelma Akhira’s Lamees El Hadidi took note of Health Minister Hala Zayed saying yesterday that Egypt will not return to a lockdown if cases begin to spike again (watch, runtime: 2:02). We have more on the story and Zayed’s other remarks at the WHO Regional Committee meeting for the Eastern Mediterranean Region in What We’re Tracking Today, above.

We still don’t have an ETA for the Chinese-developed vaccine, which is currently in phase three clinical trials in Egypt, advisor to the Health Minister Noha Assem told Lamees (watch, runtime: 7:33). Once the trials are complete, Egypt plans to begin producing the vaccine as soon as the full trials are complete and the vaccine is proven effective, Assem said (watch, runtime: 1:45).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.