Latest news with #economicReform
Zawya
4 days ago
- Business
- Zawya
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. ( Daily News Egypt
BBC News
29-05-2025
- Business
- BBC News
I make two ogbonge reforms wey no make our kontri collapse
President Bola Tinubu tok say di first two policies wey im administration take wen e enta into office na im save di kontri further collapse. For one broadcast to mark di second anniversary of im administration on May 29, di Nigerian leader tok say di economic and general situation of di kontri wey im inherit bin require make dem redirect di kontri affairs wit a bold and new vision, and dat na why im implement "di two necessary policies make di kontri for no further fall." Wen dem inaugurate President Tinubu on 29 May two years ago, di first two reforms wey e introduce na di removal of fuel subsidy and floating of di naira. Dis two reforms bin get serious impact on kontri pipo as di prices of goods and service bin dey on record high and inflation rise, Nigerians bin experience di worst cost of living crisis in a generation. "E bin dey clear say if di federal goment plus di oda two tiers of goment wan remain viable and cater to di citizens' welfare, dem must do away wit years of fuel subsidies and di corruption-ridden multiple foreign exchange windows. Di two no longer dey sustainable and don become needle for our kontri neck, wey dey chock us and strangle our nation future," President Tinubu tok. However, di president say despite di bump for di cost of living, dem don make "undeniable progress" as di reforms dey work and di economy don stable. "Inflation don begin go down, as di price of rice plus oda food stuff don dey reduce. Di oil and gas sector dey recover; rig counts don go up by ova 400% in 2025 compared to 2021, and dem don commit ova $8 billion in new investments. We don stabilize our economy and we dey better positioned now for growth and very prepared to withstand global shocks."
