Key View 

• After losing 20.0% of its value in

Key View: We have once again lowered the short-term 2023/24 outlook to account for higher than expected inflation, currency movements and challenges linked to balance of payment which will drive up cost of living and weigh on households and enterprises alike. Nevertheless, there is room for growth in this market over the forecast period to 2027

Key View

• We think Egypt will tread cautiously in its foreign policy towards Sudan and Libya in order to balance the UAE’s concerns with regional political and security interests.

• While we continue to expect Egypt's foreign policy to be closely tied to that of the Gulf Cooperation Coucil (GCC) markets, as it seeks to galvanise financial

Key View

• Despite a decline in Egyptian gas production at the start of this year, the country’s LNG exports are off to a strong start due in part to surging pipelined gas imports from Israel.
• We expect surging pipelined gas exports from Israel to Egypt to be maintained for the remainder of 2023, helping to sustain Egypt’s LNG exports at record

Key View

• We believe Egyptian vehicle sales will remain under pressure in 2023 as the lingering impacts of currency devaluation and the resulting higher inflation negatively impact consumer disposable incomes and thus vehicle demand.
• In 2024, we forecast vehicle sales to post a healthy 15.0% increase in sales aided by favourable base effects

Key View

• At Fitch Solutions we see rising downside risks to our view that the Egyptian pound will weaken only gradually from a spot of nearly EGP31.0/USD to EGP33.0/USD in H123.
• Rising pressure on the currency market amid limited foreign capital inflows and the upcoming IMF review could prompt the Central Bank of Egypt (CBE) to allow another