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Vol 59 No 8

Published 20th April 2018


Mixed messages

Egypt's main indicators are improving steadily, but this has not translated into better living standards or less repression

In the week after Abdel Fattah el Sisi secured a second term as President in an election without any credible rival candidates, a team from the Ministry of Finance made a series of presentations to European bond investors that culminated in a heavily oversubscribed issue of €2 billion in eight- and twelve-year securities. The confidence of foreign portfolio investors has been buoyed by positive economic indicators, such as rising real GDP growth, falling inflation, rising foreign exchange reserves, a much-reduced current account deficit and lower inflation.

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