Egypt’s shift back toward economic orthodoxy will result in near-term economic pain, but it could also pave the way for faster economic growth over a longer horizon. Part of that will rest on Egypt capitalising on its improved external competitiveness, which will help to bolster sectors such as tourism, manufacturing, and trade and logistics. While spillovers from the Israel-Hamas war will probably weigh on the recovery for some time, we’re cautiously optimistic that these sectors will benefit from a weaker pound further ahead.
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