Macroeconomic Forecast Egypt

Given a fifth consecutive month of decreasing consumer price inflation in Egypt, coming in at 10.5% in May, down from 11.4% in April we project price growth to move into single-digit territory in the coming months. This process will be supported by weak investment. Consequently and against the consensus, we do not see the Central Bank of Egypt (CBE) intervening and raising interest rates over the medium-term.

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