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Wednesday, 12 October 2022

Last Night’s Talk Shows on all things economy

Our talking heads put on their economist hats for the night, after the IMF released its revised World Economic Outlook report (see the full details in our Economy section, above). The pundits took us through what the outlook means for Egypt — and reassured us that it’s not time to panic.

Nothing is set in stone: “Egypt has exceeded the IMF’s growth forecasts more than once,” said Masaa DMC’s Ramy Radwan (watch, runtime: 4:10).

Gov’t is working overtime to ensure the wheels keep spinning: The state is working to develop various sectors to help push growth, Cairo University Economics Professor Hisham Ibrahim told Al Youm (watch, runtime: 5:30). National projects create jobs and boost productivity, while sectors like tourism are continuing to bounce back from the pandemic.

How big will the IMF lifeline be? Somewhere in the USD 5-7 bn range, House Budget and Planning Committee Chairman Fakhri El Fiqi speculated in a phone call with Ala Mas’ouleety (watch, runtime: 4:43). BNP Paribas sees the imminent emergency loan package from the IMF coming in at USD 3-5 bn.

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