The country’s economic momentum has eased, but Egypt’s fundamental recovery story remains intact, according to the Middle East Overview Outlook 2019 report issued by the Switzerland-based investment bank, and financial services company, Credit Suisse Group. “We continue to see the recovery in tourism and transition to being a net gas exporter driving growth and underpinning currency stability into 2019,” the report states. However, Credit Suisse believes that Egypt’s growth levels are still far from being contractionary, and there are early signs of stabilisation. Moreover, the report highlights, slow foreign direct investments (FDI) is the primary area of disappointment in Egypt’s economic development. However, the investment bank maintains their positive view on Egypt, and sees the recent sell-off as an opportunity to add exposure.

Source: Daily News Egypt January 08, 2019 14:37 UTC