Egypt is one of Franklin Templeton’s top three global market picks for growth

Egypt is one of Franklin Templeton’s top three global market picks for growth, Zawya reports. Salah Shamma, co-head of MENA equities at the fund, predicts greater inflows into equities due to positive macroeconomic conditions, strong consumer confidence and improving investor sentiment. Declining inflation and an anticipated fall in interest rates, perhaps by as much as 200 bps this year, will also provide a boost for Egyptian stocks.

Strong performance expected from Saudi Arabia, Dubai: Shamma also likes equities in Saudi Arabia and Dubai. Saudi Arabia, another of the fund’s top three picks, will reap the benefits of its upgrade to emerging market status by both FTSE Russell and MSCI. Dubai, meanwhile, is in “the midst of an early cycle recovery,” he said.