Cairo – Mubasher: The latest Egyptian economic data, on the face of it, show that the economy held up well in 2015, but the underlying picture is actually weak, said a recent report compiled by Capital Economics.
The report expects a slowdown in GDP growth to around 3.0% in 2016, as the tourism sector is in the midst of a fresh downturn and a devaluation of the pound looking increasingly likely.
Nonetheless, economic conditions should improve from 2017 onwards, added the report.
