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Egyptian economy to flourish in 2020 – Renaissance Capital

Egyptian economy to flourish in 2020 – Renaissance Capital
CBE's initiatives support the positive expectation

Cairo – Mubasher: The Egyptian economy is expected to see more improvements in 2020, reaping the benefits of the country’s economic reform programme with the International Monetary Fund (IMF), Renaissance Capital remarked on Thursday, according to the Middle East News Agency.

Such positive expectation is supported by initiatives introduced by the Central Bank of Egypt (CBE) to stimulate the economy, Renaissance Capital added.

The investment bank’s CEO for North Africa, Amr Helal, said that the Egyptian economy’s outlook has become more positive than ever before, giving the recovery of the macroeconomic indicators.

Moreover, Renaissance Capital’s head of research for MENA, Ahmed Hafez, expected that the CBE will reduce interest rates by 2.5% in 2020.

This figure is consistent with current and targeted inflation levels, which stand at a range between 7% and 8%, Hafez added.