By Rania Imam
BMI Research Company released its 2016 risk report, which held a positive outlook on the Egyptian economy. The report projected that Egyptian pound would become stable, investments will flow and the economy would be one of the region’s best during the coming decade.
The annual risk report, which came out this week, expected that trade balance and financial position will grow tougher on the back of oil subsidies’ reforms. It is likely that plans to cut subsidies will be suspended, in case they sparked widespread controversies, yet the largest part of reforms would be proceeded.
BMI’s report mentioned that relative political stability and establishing democracy will open up the gates for many western investments. It projected growth rates at 2.9 per cent- for the fiscal year 2015/2016, and up to 4.6 per cent in 2016/2017.
It concluded that increase in foreign investments and trade balance reforms are 2 key drivers to enhance Egypt’s economy.
