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Winners and Losers since the flotation: what is next?

Next Friday, 3 November, marks a year since Egypt has started its economic reform programme—one that has been the most difficult—to revive the ailing economy and achieve growth rates that reflect on creating jobs, curb unem- ployment, and improve standards of living for Egyptians. At the heart of these bold and cru- el reforms came …

Mohamed Ayyad

Currency flotation is paying off as foreign flows drive foreign-exchange stabilisation: EFG Hermes

Squeezed by turbulence and uncertainty since 2011, Egypt’s economy encountered numerous challenges, such as the prolonged political transition that led to the build-up of macroeconomic imbalances. The government decided to adopt an economic reform programme—backed by the International Monetary Fund (IMF)—which included the introduction of the value-added tax (VAT) law, the reduction of fuel subsidies, …

Mohamed Samir

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