{"id":596827,"date":"2019-07-09T04:28:26","date_gmt":"2019-07-09T04:28:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/09\/economic-growth-to-remain-stable-over-the-coming-two-years-nbk\/"},"modified":"2019-07-09T04:28:26","modified_gmt":"2019-07-09T04:28:26","slug":"economic-growth-to-remain-stable-over-the-coming-two-years-nbk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/09\/economic-growth-to-remain-stable-over-the-coming-two-years-nbk\/","title":{"rendered":"Economic growth to remain stable over the coming two years -NBK"},"content":{"rendered":"

<\/a> Economic growth to remain stable over the coming two years -NBK:<\/b> Egypt\u2019s economic growth is set to remain stable over the coming two years, with GDP expanding at a 5.2% clip during the current fiscal year and 5.0% in FY2020-2021, the National Bank of Kuwait (NBK) forecasts in a new report. Growth will be supported by increasing capital expenditure, a rebound in tourist receipts, and surging natural gas production.<\/p>\n

Inflation: <\/b>NBK expects inflation to average 12.5% during FY2019-2020, but sees it reaching the central bank\u2019s 9% target rate in FY2020-2021. Should inflation continue on this path, NBK forecasts the CBE to move ahead with 100-200 bps of rate cuts by the middle of 2020.<\/p>\n

The country\u2019s debt burden remains a problem<\/b>, and will continue to make it harder for the government to make serious progress with reducing the budget deficit. NBK forecasts the debt-to-GDP ratio to increase during the current fiscal year to 90% from 86%.<\/p>\n

The 7.2% deficit target is achievable, though<\/b>, provided that the government pushes ahead with its reform commitments, and that oil prices remain within the budget\u2019s benchmark price of USD 65-67 bbl.<\/p>\n","protected":false},"excerpt":{"rendered":"

Economic growth to remain stable over the coming two years -NBK: Egypt\u2019s economic growth is set to remain stable over the coming two years, with GDP expanding at a 5.2% clip during the current fiscal year and 5.0% in FY2020-2021, the National Bank of Kuwait (NBK) forecasts in a new report. Growth will be supported […]<\/p>\n","protected":false},"author":1,"featured_media":596828,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[104,72,348,182,349,3227,2380,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-economy","tag-enterpriseam","tag-gdp","tag-inflation","tag-interest-rates","tag-national-bank-of-kuwait","tag-speed-round","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"d6014e93-c450-4461-a58e-bbf3bc9a928b","is_powered_by":true,"section_story_id":"0b23dc63-bf8d-4eb2-baf2-ba12341e7598","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/1388.png","photo_position":"above","related_issue":[596815],"teaser":"","voice_url":""},"yoast_head":"\nEconomic growth to remain stable over the coming two years -NBK - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/09\/economic-growth-to-remain-stable-over-the-coming-two-years-nbk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic growth to remain stable over the coming two years -NBK\" \/>\n<meta property=\"og:description\" content=\"Economic growth to remain stable over the coming two years -NBK: Egypt\u2019s economic growth is set to remain stable over the coming two years, with GDP expanding at a 5.2% clip during the current fiscal year and 5.0% in FY2020-2021, the National Bank of Kuwait (NBK) forecasts in a new report. 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In Egypt, NBK plans to have 60 branches\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599231,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/23\/nbk-capital-partners-quits-talks-to-acquire-abraajs-global-credit-fund\/","url_meta":{"origin":596827,"position":1},"title":"NBK Capital Partners quits talks to acquire Abraaj\u2019s global credit fund","author":"enterpriseam admin","date":"23 June 2019","format":false,"excerpt":"M&A WATCH- NBK Capital Partners bows out of \u201cadvanced\u201d talks to acquire Abraaj\u2019s global credit fund: National Bank of Kuwait\u2019s brokerage unit NBK Capital Partners has exited advanced-stage talks to acquire a global credit fund from defunct PE firm Abraaj,Reuters reported, citing two sources familiar with the matter. NBK Capital\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575208,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/nbk-approves-resignation-of-deputy-ceo-omar-wahby\/","url_meta":{"origin":596827,"position":2},"title":"NBK approves resignation of deputy CEO Omar Wahby","author":"enterpriseam admin","date":"6 October 2020","format":false,"excerpt":"MOVES- The National Bank of Kuwait has accepted the resignation of deputy CEO and board member Omar Wahby, according to an EGX statement (pdf). Meanwhile, Omar Bohdeiba (LinkedIn) and Soliman Barrak Al-Marzouq have been named to the board, the bank said. Al Marzouq currently holds a deputy CEO position at\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603141,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/nbk-sees-egypt-and-saudi-as-growth-markets\/","url_meta":{"origin":596827,"position":3},"title":"NBK sees Egypt and Saudi as growth markets","author":"enterpriseam admin","date":"16 April 2019","format":false,"excerpt":"Egypt and Saudi are among the markets the National Bank of Kuwait sees growth in, Group Deputy CEO Shaikha Khaled Al Bahar told Bloomberg TV (watch, runtime: 06:56). NBK is the latest foreign bank to see Egypt as a source of growth for its operations. HSBC and Lebanon\u2019s Blom Bank\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645532,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/24\/nbk-egypt-earnings-for-1h2017\/","url_meta":{"origin":596827,"position":4},"title":"NBK Egypt earnings for 1H2017","author":"enterpriseam admin","date":"24 July 2017","format":false,"excerpt":"EARNINGS WATCH- The National Bank of Kuwait - Egypt reported a 78.4% year-on-year jump in net profit during 1H2017, which came in at EGP 727 mn, according to a regulatory filing to the EGX.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":653002,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/24\/nbk-4q2016-profits-increase-but-says-business-was-impacted-by-egp-float\/","url_meta":{"origin":596827,"position":5},"title":"NBK 4Q2016 profits increase, but says business was impacted by EGP float","author":"enterpriseam admin","date":"24 January 2017","format":false,"excerpt":"National Bank of Kuwait (NBK) was also impacted by the EGP flotation. \u201cThe move by Egypt's government in November to devalue the Egyptian currency resulted in a dip in the value of assets and liabilities held by its Egyptian subsidiary when converted to dinars, NBK said,\u201d as per Reuters. 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