Business Monitor International. 1- The second half of 2013 will be a difficult period for the Egyptian economy, as ongoing concerns surrounding a potential devaluation of the pounds de facto fixed exchange rate are likely to continue undermining investment patterns. Sporadic outbursts in public unrest and ongoing policy drift will undermine a more pronounced economic recovery. 2- The combined impact of currency devaluation and hikes to domestic energy prices will push consumer price inflation back into the double digits by the end of the year. 3- Egypts geopolitical importance will ensure that even if an IMF agreement is delayed for longer than expected, further foreign aid commitments will materialise over 2013. Western powers such as the US and EU have an interest in ensuring the North African country does not experience a more pronounced economic and political crisis. However, it will be donations from the GCC which keeps Egypt afloat this year.
Posted on: Tue, 05 Nov 2013 15:50:45 +0000
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