Recently published research from Business Monitor International, "Egypt Business Forecast Report Q1 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 02/01/2013 -- Core Views
Egypt's macroeconomic recovery will continue apace in 2013, although we stress that growth will remain below pre-crisis levels. Exports and fixed investments could perform strongly over the coming quarters, assuming that the tentative stabilisation of the political environment seen since H212 holds.
We expect Egypt to sign an IMF Stand-By Arrangement at some point in early 2013, and believe that further foreign aid from the Gulf will also be necessary to avoid a full-blown balance of payments crisis.
Major Forecast Changes
We have adjusted our short-term bearish outlook on the Egyptian pound due to a larger-than-expected influx in foreign aid during the second half of 2012. That said, we still believe further depreciation for the currency is on the cards, and are forecasting the unit to average EGP6.3000/US$ in 2013.
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