Key View: E-commerce has fast become an important consumer industry in Egypt. Its progression has been propelled by favourable government incentives, trends around the Covid-19 pandemic and the country’s young and growing population. These factors have culminated in a flurry of tech start-ups for the e-commerce industry.

Egypt is at the heart of

Key View: The concentration of incomes below USD5,000 in Egypt has meant informal retail formats remain prevalent in Egypt, particularly in the country’s non-urban areas. The introduction of recent legislation around the development of new property will have a significant positive impacts on the retail landscape and accessibility of formalised

Key View

• At Fitch Solutions we now expect that Egypt’s real GDP growth will slow from 6.6% in FY2021/22 to 3.4% in FY2022/23. This is an upward revision from 3.0% previously mainly due to stronger Q1 GDP reading.
• Despite the revision, higher inflation; tighter monetary policy; shortages of foreign currency; a still unstable exchange rate

Key View

• We forecast Egypt’s LNG exports to grow by 30% y-o-y in 2023, rising to a record high of 13.6bcm in annual LNG exports.
• We expect 2023 to be a peak in Egypt’s LNG exports, as future declines in natural gas production coupled with domestic demand growth are likely to weigh down on exports.
• Egypt’s latest 2022 licensing round is

Key View

• At Fitch Solutions we believe that Egypt-Turkiye ties will keep improving over the medium term, lowering tensions in Libya and improving bilateral trade.
• That said, tensions over the exploitation of gas exports from the Eastern Mediterranean to Europe will persist, causing bilateral relations to improve only at a modest pace.
• While

Key View: We have lowered the 2023 growth forecast to account for inflation, global economic slowdown, a commodity price surge and slower economic performance. Our outlook is generally positive for the non-life sector to 2026 and beyond. We expect positive growth, supported by rising demand from retail and enterprise clients along with steady

Key View

• At Fitch Solutions we foresee a significant improvement in Egypt’s current account deficit, narrowing from 4.1% of GDP in FY2021/22 to 2.8% of GDP in FY2022/23.
• Import suppressions and lower global commodity prices, together with strong gas exports, a resilient tourism sector, robust receipts from the Suez Canal and rebounding

Key View

• At Fitch Solutions, we believe that Egypt’s agreement with the IMF will ease pressures in the short term and reduce uncertainties.
• While the floating of the currency will increase inflationary pressures and pressure consumption, it will help address imbalances in the currency market.
• That said, external vulnerabilities will persist

Key View

• Multinational investment in OTC medicine manufacturing in Egypt will contribute to sustained sales growth.
• The drive for universal healthcare in Egypt will reduce dependence on OTC medicines.
• Increased multinational-backed local manufacturing capacity will help to reduce the frequency and severity of drug shortages in the long term