Cairo – Mubasher: Egypt is likely to top African countries in terms of economic growth in 2018, according to a recent report by BMI Research.
“While the region as a whole is set to see growth accelerate, Egypt stands out as the economic outperformer in 2018, as structural reforms implemented as part of the 2016 International Monetary Fund (IMF) begin to spur more significant investment, while headwinds to household consumption cool,” the report added.
Economic growth of the North African nation is expected to accelerate, in line with the recovery of consumer spending and the decline of inflation rates, the report highlighted.
The economic growth path will be faced with several obstacles such as the unstable political scene in the region, but it will not be enough to affect the Egyptian economy, the report showed.
The new investment law will reinforce investors’ confidence and lure direct investments to the Arab world's most populous country that in return create more jobs, the report indicated.
The IMF forecast Egypt’s economic growth to stand at 4.8% in fiscal year 2017/2018 and to reach 6% in the medium term.
