{"id":630022,"date":"2018-04-10T04:42:35","date_gmt":"2018-04-10T04:42:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/hsbc-is-bullish-on-egypt\/"},"modified":"2018-04-10T04:42:35","modified_gmt":"2018-04-10T04:42:35","slug":"hsbc-is-bullish-on-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/hsbc-is-bullish-on-egypt\/","title":{"rendered":"HSBC is bullish on Egypt"},"content":{"rendered":"

HSBC is bullish on Egypt:<\/strong> Egypt\u2019s economic growth has been extremely impressive, HSBC Senior Economist Razan Nasser tells Bloomberg TV. This is particularly reflected in Egypt\u2019s account deficit, which shrank by 64% in 1H2017-18<\/a> on the back of better tourism, remittances and export figures.<\/p>\n

Further structural reforms needed:<\/strong> Overall, while Nasser is bullish on Egypt\u2019s growth, she says that the economic gains have primarily been cyclical. Further structural reforms will be needed, and that might be a challenge, as these are under fewer time constraints and their impact won\u2019t be felt in the short term, she says.<\/p>\n

As for the monetary easing cycle, Nasser sees the interest rate cuts are a welcome relief, expecting another 200 bps cut this year.<\/strong> The 700 bps hikes in interest rates following the EGP float had been painful on the government as well, as debt service makes up a third of public spending. These cuts are justified when looking at the lower inflation figures. These have also been reflected in the PMI reading in March, which despite falling to 49.2<\/a>, saw both input prices and output charges increasing at softer rates in the non-oil private sector, she added.<\/p>\n

Inflation continues to be a risk<\/strong>, warned Nasser, who added that \u201cwe shouldn\u2019t get complacent.\u201d<\/p>\n

Carry trade won\u2019t be harmed by the rate cuts:<\/strong> While she doesn\u2019t expect the carry trade to continue at the same rate as yields drop, Nasser said that Egypt\u2019s fundamentals will continue to help make Egypt attractive. You can check out the full interview here (watch, runtime: 5:08<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

HSBC is bullish on Egypt: Egypt\u2019s economic growth has been extremely impressive, HSBC Senior Economist Razan Nasser tells Bloomberg TV. This is particularly reflected in Egypt\u2019s account deficit, which shrank by 64% in 1H2017-18 on the back of better tourism, remittances and export figures. Further structural reforms needed: Overall, while Nasser is bullish on Egypt\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":630023,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"191a67a6-8838-4723-8361-5260abf7391c","order":"0","is_powered_by":true,"section_story_id":"c3b3ca4d-fd3d-41c2-93de-4e76c908b387","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/4\/1294.jpg","photo_position":"above","related_issue":[630009],"teaser":"","voice_url":""},"yoast_head":"\nHSBC is bullish on Egypt - 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\/2018\/04\/10\/hsbc-is-bullish-on-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC is bullish on Egypt\" \/>\n<meta property=\"og:description\" content=\"HSBC is bullish on Egypt: Egypt\u2019s economic growth has been extremely impressive, HSBC Senior Economist Razan Nasser tells Bloomberg TV. This is particularly reflected in Egypt\u2019s account deficit, which shrank by 64% in 1H2017-18 on the back of better tourism, remittances and export figures. 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Egypt was ranked 15th out of 75 countries in HSBC\u2019s long-term future growth report (pdf). The report, which measures the growth trajectory of these 75 countries through to 2030, models a country\u2019s catch-up potential, population (size and shape),\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\/2018\/4\/1294.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":670061,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/13\/ayman-soliman-joins-hsbc-egypts-board\/","url_meta":{"origin":630022,"position":1},"title":"Ayman Soliman joins HSBC Egypt\u2019s board","author":"enterpriseam admin","date":"13 August 2025","format":false,"excerpt":"Soliman brings over two decades of experience in leadership positions","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/8\/799.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":629096,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/22\/hsbc-remains-fundamentally-optimistic-on-egypts-near-term-outlook\/","url_meta":{"origin":630022,"position":2},"title":"HSBC remains \u201cfundamentally optimistic on Egypt\u2019s near-term outlook\u201d","author":"enterpriseam admin","date":"22 May 2018","format":false,"excerpt":"HSBC remains \u201cfundamentally optimistic on Egypt\u2019s near-term outlook\u201d: We like Simon Williams even when he\u2019s not singing the economy\u2019s praises, so it\u2019s particularly gratifying to see HSBC\u2019s chief economist for Central and Eastern Europe, the Middle East and Africa (also known as \u201cthe world\u2019s coolest geography\u201d) sounding bullish on our\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":602468,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/28\/credit-suisse-is-bullish-on-egypt-sees-it-as-top-pick-across-the-middle-east\/","url_meta":{"origin":630022,"position":3},"title":"Credit Suisse is bullish on Egypt, sees it as \u201ctop pick across the Middle East\u201d","author":"enterpriseam admin","date":"28 March 2019","format":false,"excerpt":"Credit Suisse is bullish on Egypt, sees it as \u201ctop pick across the Middle East\u201d: Egypt is Credit Suisse\u2019s \u201ctop pick\u201d in the Middle East as the firm continues to be bullish on Egypt, Credit Suisse Group\u2019s head of MENA research Fadh Iqbal told Bloomberg TV (watch, runtime: 3:26). 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