New Country Views Egypt: A report card after the IMF

Date: Aug 2019

  • While there has been strong growth, declining inflation and fiscal account deficits, the private sector has remained under pressure and remittances into Egypt and net FDI are lower than in peak years.
  • Egypt’s next moves should be to focus on additional structural reforms, including integrating the informal sector into the formal economy.
  • Spurred on by being the largest oil and gas consumer in MENA, Egypt is on track to achieve its target of generating 20% of its electricity by 2022 through developing the renewables sector.

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Saudi Arabia:

A report card on Vision 2030

  • Since its launch in April 2016, Vision 2030 has had a mixed record of achieving its ambitious goals. Crown Prince Mohammad bin Salman (MBS) has been able to launch some aspects of the agenda, such as cultural and social reforms, with dizzying spread and little resistance.
  • There have been some successes with governance reforms and in improving fiscal balances. But they have not come without challenges.
  • But other initiatives, including the partial privatisation of Saudi Aramco, have suffered delays. Foreign investment in the Vision’s industrial and real estate projects has also fallen below targets.

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