EGPT - Why Egyptian Banks Are Appealing
Opportunity Overview
Egypt's macroeconomic state is favorable compared to that of other MSCI frontier and emerging markets, as the economy has witnessed notable improvements since 2016. Egypt's inflation has declined from the double-digit peaks during 2016 to the single-digit levels as of June 2019, which has supported local consumers and allowed the central bank to cut interest rates. Egypt's tourism industry has also recovered considerably, as around 9 million tourists visited Egypt last year. Notably, Egypt has successfully completed a three-year IMF program, during which the economy improved in many aspects. The economy has seen