Egypt’s economic growth to remain strong in medium-term: Fitch
Macroeconomic, political stability support Egypt’s positive growth 2017 to current health crisis
Doaa Elboraie
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Latest by Doaa Elboraie
Decline in global food prices favours Egyptian economy: National Planning Institute
Government will control short- and medium-term price increases
As inflation slows, interest rates to be maintained: Beltone
The highest growing category annually remains education, showing a 28.5% y-o-y rise, followed by recreation and culture, as well as transportation, growing at 14.3 % and 13.4% y-o-y in March, respectively
Cautious drop in petrol prices due to oil market’s high volatility: Beltone
Limited impact on inflation, which remains in CBE target zone, despite expected pressures
Limited positive impact on fiscal maneuverability after rates cut, yet downside risks remain: Beltone
Beltone analysts maintain average inflation expectations of 6.5%, which should keep headline inflation within CBE’s target zone by year-end
Real GDP to remain strong, grow 5.9% in FY19/20 from 5.6% in FY18/19
Interest rates to be cut by 200 bp by year end, to continue to drive down borrowing costs for local firms
Keeping interest rates on hold unlikely to strengthen EGP: Standard Chartered
Another 200bps of rate cuts in FY 2020
Public debt declined to 90% of GDP in June 2019 from 108% in June 2017
Egypt achieved a primary surplus of 2% of GDP in FY18/19 compared to deficit of 3.5% in FY15/16
2020 macro environment marks a big shift from 2019 dynamics
Emerging Markets still have room to provide monetary stimulus
FAO Food Price Index soars to 5-year high in December 2019
For 2019, the FFPI averaged 171.5 points, with only three points higher than 2018 and still significantly below its 230 point peak in 2011
Steady expansion in banks’ financial position: healthy growth in money supply, thanks to positive nominal GDP outlook: Beltone
Lending to regain its pull as primary utilization shelters on lower interest rates and new tax law amendments on government securities; remains demand driven
Egypt’s underserved population offers stronger growth in healthcare sector
Ibnsina pharma continues to deliver robust earnings, owing to continued market share gains and better margins
The challenging environment in telecom sector started in 2017 will continue in 2020
Stronger EGP will support higher profits and lower debt cost
Egypt’s FDIs jump to $2.4bn in 1Q20 from $1.4bn in 1Q19
Portfolio investment outflows eased to around $2bn from $3.2bn in 1Q18/19
Egypt’s giant natural gas discoveries are key for Egyptian industrial players
Strengthening EGP could result in further margin pressure
Egypt’s real estate sector to decelerate in 2020
2H19 to be stronger, driven by new project launches toward the end of the year
After ten years of global financial crisis, assets to return over the next 10 years
Europe runs the highest recession risk among major economies, US is premature
Egypt is the economy with the most catalysts for growth in the region: Beltone Financial
Fears of heightened competition, increased prices, and unexpected weakness in local currency
Gradual recovery for private sector in 2020: EFG Hermes
Interest rates to witness 150-200 bps cut in 2020, with inflation stabilisation at 6-7%
Egyptian hotel markets continue to experience strong levels of performance
Occupancy rate in in Cairo, Sharm El Sheikh, Hurghada, and Alexandria recorded 80%, 60%, 67%, 82%, respectively.
Pharos Holding optimistic about the Egyptian economy
Household consumption to grow by 1% in FY19/20 and to keep driving growth in upcoming years
Moody’s downgrades outlook for African banks to negative in 2020
Banks in Egypt, Morocco, Mauritia, and Kenya will be more resilient
OPEC’s 1Q20 production cut will lower Saudi GDP, slightly impact Egypt
Egyptian petrol prices will remain unchanged upon the second quarterly review
OWRE fair value from EGP 14.6 to EGP 11.75: Beltone
The NAC creates growth potential for OWRE
FDI in Egypt: where does it stand and where is it heading?
FDIs declined 24% to $5,9bn in FY 2018/19, from $7,7bn in FY 2017/18
Egypt’s real estate accounts for 16% of GDP, employs 5% of labour force: HSBC
HSBC Economics Team remain positive on its view on the economic outlook for Egypt
Arabian Cement Company incurred core losses of EGP 8m in 3Q19, unchanged from 2Q19
Beltone set Arabian Cement Company’s fair value at EGP 6.63, and recommends buying.
Beltone Financial recommends investing in Egyptian market
EGP strength is the pinnacle of reforms in 2020, and all odds are in favor of it
El Sewedy Electric 3Q19 profits dropped by 7% QOQ to EGP 924m, falling in line with Beltone estimate
The company recorded EGP 96m in FX losses during the quarter
Domty’s net income jumps by 35% in 3Q19 beating expectations: Beltone
Domty’s market share in Cairo has increased