Mashat noted that the the economic reforms implemented in Egypt over the past seven years have helped enhance growth and the Egyptian economy’s capability to face up to the negative impacts of the Covid-19 pandemic.
"Egypt has issues in bringing hard currency. We reach out to the foreign market to make them invest in Egypt. An action that would strengthen the Egyptian pound.”
Egypt's policy makers have a challenge of getting the ratio of real liberalization to financial liberalization right, he said.
“Egypt is vulnerable to external shocks, and its open to global market, for example, the global oil price affects Egypt, the work force abroad and many other factors.”
Ma’it added that his country is interested in offering bonds in Chinese yuan.
Ma’it added that it’s expected to achieve a budget deficit of 7.2 percent in the current fiscal year, compared to around 13 percent 3 years ago.
Businesses in Egypt voted HSBC as the 1st Market Leader in Trade Finance Services according to Euromoney’s 2019 Trade Finance Survey results.
Farid added that the yields of Initial public offerings (IPO) reached LE 2 billion in 2016, and witnessed an increase in 2017, recording LE 4 billion.
The second day of the Euromoney Egypt Conference kicked off on Wednesday.
The 28th Euromoney Conference in Cairo themed resilience and agility kicked off on Tuesday.
A senior Iranian official said the West must ensure the Iran 2015 nuclear deal succeeds before trying to negotiate other issues.
Egypt is definitely going in the right direction and its recovery is noticeable, Christian Richter, a contributor to Euromoney, said Friday.
The first topic addressed by the panel was the biggest barriers to creating a start-up in Egypt.
The EIB is willing to engage in small and medium industries that are economically rational and have a foreseeable strategy, to help them scale up.
“SMEs can’t trade by themselves but they can be a growing engine to promote exports in the country,” Oramah said.
The first session will feature IFC, AfDB and Afreximbank as speakers.
Several real estate developers and experts spoke openly about current real estate market performance while remarking challenges.
Minister of Finance Amr Al-Garhi announced that Egypt's fiscal gap is estimated at $11B in FY 2017/18
The economic reform measures taken by the Egyptian government have contributed in boosting foreign direct investment by 25 percent since pound’s flotation
Euromoney Egypt kicks off its 22nd edition with a focus on SMEs, real estate and a positive outlook that Egypt is investible again.