BoP – Slow But Steady Turnaround Ahead

BMI View : Egypt's balance of payments position is slowly moving in the right direction , and we expect continued improvement in the coming quarters. While data are patchy, lower oil prices, fuel subsidy reform and a weaker currency will hurt hydrocarbon imports and cause the trade deficit to decline. Goods export growth will be minimal given domestic issues such as power supply, but services will see a significant pickup, especially tourism.Our forecast for a notable improvement...

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