Research and analysis

Egypt: economy update April 2014

Latest economic developments.

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The IMF expects growth in Egypt in 2014 to be broadly the same as 2013. Middle East fund managers are bullish on Egyptian equities as the country makes progress in its political transition and announces dates for the presidential elections. The Central Bank covers the entire backlog of dollars owed to foreign investors seeking to repatriate funds from the country. Egypt’s external position improves in the second half of 2013 due to the inflow of Gulf aid. International reserves inch up slightly. The property tax law will come into effect in July. Egypt continues to suffer daily blackouts. The Government decides to allow the use of coal as a source of energy for industry and power generation to mitigate the erratic gas supply. Egypt will start importing liquefied natural gas this year as the country is set to receive a floating storage and regasification unit later this year. Egypt and Russia discuss bilateral relations.

Published 25 April 2014