Nevertheless, the region remains vulnerable to geopolitical risks and volatility in the oil markets. Against this backdrop, the September edition of the “Focus Economics Consensus Forecast Middle East & North Africa” kept the growth projections for the region stable at 2.3%. As a result, Focus Economics projects Egypt’s GDP to expand 3.1% for fiscal year (FY) 2016, and 3.6% for FY 2017. Focus Economics expects an average inflation of 11.8% for calendar year 2016, and 11.5% for 2017. “The August PMI figures underscore the urgency to initiate a wide-ranging economic reform programme.

Source: Daily News Egypt September 07, 2016 16:41 UTC