Egypt's economic reset: Signs of stabilization, path to sustainable growth
Simon Williams, HSBC's Chief Economist for Central & Eastern Europe, the Middle East and Africa (CEEMEA), and Helen Belopolsky, HSBC's Global Head of Geopolitical Risk, recently shared their outlook on Egypt's economic trajectory at an exclusive client event held at HSBC Egypt's Head Office in Cairo.
Addressing an audience of nearly 100 business leaders and stakeholders, they discussed Egypt's evolving economic landscape amid regional and global uncertainties. Despite persistent geopolitical challenges, the experts pointed to clear signs of stabilization and emerging opportunities that could accelerate Egypt's economic rebound.
'Inflation is stabilizing, the currency is holding, the budget deficit is easing, and interest rates are beginning to fall,' said Simon Williams. 'These are strong indicators that Egypt's economic rebalancing is well underway. However, continued policy discipline will be critical to sustaining this progress—particularly as revenues from the Suez Canal and the energy sector come under pressure and geopolitical risks remain unresolved.'
Helen Belopolsky emphasized the broader context of global volatility, stating: 'As international dynamics continue to shift, adaptability becomes essential. Egypt's ongoing reform programme places it in a strong position to benefit from new regional and global opportunities.'
Todd Wilcox, Deputy Chairperson and CEO of HSBC Egypt, said: 'Egypt's fundamentals are evolving. Liquidity is improving, trade patterns are changing, and the country is gaining appeal as a regional manufacturing hub. This could drive export growth and reduce long-term foreign currency risk. For over four decades, HSBC has supported businesses in Egypt, and our commitment remains as strong as ever.'
The event fostered valuable dialogue on navigating today's complex economic environment, reinforcing HSBC's role as a trusted advisor and partner in Egypt's growth journey.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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