A slew of data releases during the past month has shown that Egypt is still dealing with the hangover from its economic crisis. However, we believe that the economy has turned a corner, largely underpinned by several critical economic reforms initiated in March this year. Saudi Arabia’s Crown Prince Mohammed bin Salman visited Egypt in October to strengthen trade and investment ties between the two countries. The likelihood of fresh FX inflows, and specifically large investment projects, could bolster the economy’s recovery over the short to medium term.