Economy / Egypt
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Macroeconomic Forecast Egypt
January 2005 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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We anticipate growth of at least 3.5% in 2005, rising to 4.4% in 2006, with risks weighted to the upside as a result of major tax cuts. Ongoing hydrocarbons explorations pose an upside risk to exports and growth. In December, the discovery of a new Mediterranean gas source raised reserves to 66trn cubic feet, nearly twice the known levels in 1999. In the light of the recent flotation of the pound, currency dynamics are a key source of risk to the balance of payments and to inflation.