Key View

• At Fitch Solutions, we expect that the Central Bank of Egypt (CBE) will keep interest rates on hold through to end-2020.
• While inflation came in below the CBE target range in September, we expect price growth will pick up moderately towards year-end. This, coupled with risks of renewed capital outflows and pressure on the EGP, will

Key View:

• We are positive on the realisation of the USD9bn Ain Sokhna-Al Alamein High Speed Rail Project, following the awarding of the project’s contract to an Egyptian-Chinese consortium to design, build, and finance the 543km rail line.
• A prominent case of Chinese contractors successfully competing with Western firms in an international

Key View

• At Fitch Solutions we highlight that Egypt remains an attractive destination for mass grocery retail investment amid the Covid-19 pandemic.
• This is fuelled by Egypt's rising middle class which is projected to support solid growth in household spending on food products through grocery channels over the medium-term.
• Consumer spending

Key View

• Rising electricity prices and the imposition of limitations on private-use solar capacity will enhance the scope for investment in new renewables capacity in Egypt over our forecast period to 2029.
• Efforts to maintain electricity demand amid price hikes will assist in reducing oversupplies and maintaining growth in the sector.
• The

Key View

• The Egyptian Council of Medical Industries aims to boost the country’s exports of medical products, including pharmaceuticals, over the next three years.
• Government support for pharmaceutical localisation could help Egypt develop into a regional pharmaceutical hub, exporting into the Middle East and other North African nations.
• Impo

Key View

• Egypt’s large population is dominated by low income households which will slow the pace of the adoption of electric vehicles over the medium term.
• Egypt’s bus segment is the most attractive target for electrification as this segment will require a smaller charging network and the government will support the industry by buying

Key View

• Due to the Covid-19 pandemic, we have made downward revisions to our 2020 and 2021 medical device forecasts.
• We now project that the medical device market in Egypt will grow by 1.8% in 2020 and contract by 1.7% in 2021 in local currency terms, down from the 16.7% and 16.2% that we were previously forecasting for 2020 and 2021.
• Consu

Key View:

• At Fitch Solutions, we believe the Central Bank of Egypt (CBE) will hold the overnight lending rate firm at 10.25% over the remainder of 2020.
• A weakening pound (EGP) and what appears to be active efforts by the bank to stem the depreciation, suggest that further rate cuts are off the cards in the next few months, especially in the