Angus Blair, President, Signet Institute
Egypt’s economy is slowly turning a corner. In January international reserves rose for the 15th straight month while the primary budget deficit for July–December fell to a multi-year low, due to tight wage bill control and higher tax revenue. Fitch Ratings recently revised its outlook to positive. However, there’s still myriad challenges to be faced, and the IMF recently urged the government to boost the private sector and strengthen the labor market. Growth is expected to accelerate in 2018. Investment will likely rise sharply, boosted by stronger business sentiment and an improved regulatory environment, while the external sector will benefit from the weaker EGP.
Angus Blair, Founder and President of research centre and economic consultancy, Signet Institute, is here to share his thoughts on the country’s economic indicators and their impact on the real estate sector.