Analysis by Region - Africa - Egypt
The Russia-Ukraine war threatens the Egyptian economy through food shortages and soaring commodity prices. Rising global prices for essential goods such as fuel and food will filter through to consumer price inflation. Furthermore, an exodus of dollars amid shifting EM sentiment coupled with a growing import bill also pose a serious threat to the external position. Against this backdrop, we have cut our real GDP growth forecast by 0.3 ppts to 4.6% this year, from 4.9% in the February forecast round.
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