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Egypt’s economy seems to be gradually picking itself up: Focus Economics

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In Focus Economics’ monthly Consensus Forecast’s report for May 2017 about the Middle East and North Africa stated that Egypt’s economy “seems to be gradually picking itself up, according to recent data.” The report said that the Purchasing Managers’ Index (PMI) rose to its highest levels in nine months by April, in spite of the deteriorating economic situation. Even if recent global evolutions of Egypt economy had a negative effect for private consumption, GDP will increase according to most recent previsions. Analysts expect GDP to expand 3.1% in FY 2017, which is up 0.1 percentage points from last month’s forecast. “For FY 2018, the panel sees growth accelerating to 3.8%”.

 

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