{"id":598872,"date":"2019-06-11T04:00:21","date_gmt":"2019-06-11T04:00:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/standard-chartered-gives-thumbs-up-to-egypts-economic-reform-program\/"},"modified":"2019-06-11T04:00:21","modified_gmt":"2019-06-11T04:00:21","slug":"standard-chartered-gives-thumbs-up-to-egypts-economic-reform-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/standard-chartered-gives-thumbs-up-to-egypts-economic-reform-program\/","title":{"rendered":"Standard Chartered gives thumbs up to Egypt\u2019s economic reform program"},"content":{"rendered":"

<\/a> Standard Chartered gives thumbs up to Egypt\u2019s economic reform program: <\/b>Egypt will be the only oil-importing Middle East, North Africa, and Pakistan (MENAP) economy to see accelerating economic growth in the coming years, Standard Chartered has said in a report. The British bank predicts anaemic growth in other MENAP oil-importers, despite low crude prices. But it\u2019s not just oil-dependent states suffering in the current environment: global headwinds will drive down the region\u2019s average growth rate to 2.5% in 2019 from 3.6% last year, the report says.<\/p>\n

What are we getting right? <\/b>Growth is expected to speed up on the back of the \u201cimproved external position and [renewed] investor confidence as the country prepares for the conclusion of its IMF programme by the end of 2019,\u201d Standard Chartered says. The reports expects the economy to grow at a 5.8% clip in FY2019-2020 and a 6% clip in FY2020-2021, up from 5.5% during the current fiscal year. This will be further supported by rising natural gas output and the resumption of exports. Other key forecasts made in the report include:<\/p>\n