Marketing & Market Research
Country Economic Forecasts > Egypt
Country Economic Forecasts > Egypt
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Business conditions in the non-oil sector stabilised in June, as PMI respondents noted that market conditions had strengthened following the loosening of Covid-19 restrictions from June 1. While we expect the return to a more open economy to support demand conditions in coming months, the vaccination rollout seems to have lost steam. This increases the risk of a fourth wave of infections as Covid-19 restrictions are eased and the tourism season begins. Overall, we have revised our real GDP growth figure for 2021 upwards slightly from 4.1% to 4.7%. This reflects better-than-expected real GDP growth in Q1 2021, likely due to stronger-than-anticipated consumption and exports.