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Browsing: Gulf Investments
- Egypt’s economy has recently been on life support as the national debt continued to mount.
- The investments from Saudi Arabia and further funds anticipated from the World Bank and IMF will give Egypt enough cash to meet its debt obligations and maintain stability in its recently floated currency.
- The significant official and bilateral support announced and marked policy steps that Egypt has taken will, if maintained, support macroeconomic balancing.
Egypt’s economy on life support
Egypt’s economy has recently been on life support as the national debt continued to mount. The Egyptian currency has weakened against the US dollar, with rising inflation rates close to 30 per cent, occasioning a capital flight. Moreover, the overlapping global shocks and the domestic supply of bottlenecks have adversely impacted the country’s economic activity.
Egypt has also suffered from rising global interest rates and soaring commodity prices in international markets. These overlapping factors widen the …
