Monday, June 5, 2017

World Bank sees Egypt economic growth accelerating

Daily News Egypt:

A recent report issued by the World Bank projected Egypt’s economy to grow at the fastest pace in the region, bolstered by a sharp recovery in investments.

The World Bank’s latest Global Economic Prospects report sees GDP growth in Egypt clocking in at the fastest pace of any country it covers in the Middle East and North Africa (MENA) region next year and the year after.

The report sees growth at 4.3% this year accelerating to 5.0% in 2018 and 5.3% in 2019, which is more than twice the pace it expects from the GCC countries.

I think many people are underestimating how fast Egypt's new natural gas fields are coming online and how this cheap energy will power the Egyptian economy.

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