{"id":692621,"date":"2026-04-09T00:00:00","date_gmt":"2026-04-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=692621"},"modified":"2026-04-09T03:34:46","modified_gmt":"2026-04-09T03:34:46","slug":"world-bank-maintains-its-growth-forecast-for-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/09\/world-bank-maintains-its-growth-forecast-for-egypt\/","title":{"rendered":"World Bank maintains its growth forecast for Egypt"},"content":{"rendered":"

Good morning, friends. <\/strong>It has been a whirlwind 24 hours since the announcement of a two-week ceasefire between the US and Iran. The news triggered a relief rally across local, regional, and international markets, with the EGX jumping and the EGP strengthening against the greenback. <\/p>\n

^^ We dive deeper into the main drivers behind the gains and analyze what the next few weeks could mean for us in the news well, below.<\/p>\n

The question, of course, is whether the ceasefire holds<\/strong>, as we note in this morning\u2019s Big Story Abroad, below. Israel played spoiler, stepping up its attack on Lebanon, and that appears to have some in Tehran wondering whether Hormuz really should be open. <\/p>\n

**A QUICK PROGRAMMING NOTE- <\/strong>EnterpriseAM will be taking a long weekend break from your inboxes as we celebrate Shams El Nessim, but we will be back bright and early on Tuesday.<\/p>\n

***<\/strong><\/p>\n

WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.<\/strong>***<\/strong><\/p>\n

Watch this space<\/p>\n

<\/a> MACRO \u2014 The <\/strong>World Bank<\/strong> has once again held its growth forecast for Egypt for <\/strong>FY 2025-2026 at 4.3% y-o-y<\/strong>, according to its latest regional economic update (pdf)<\/a>.<\/p>\n

This comes after a series of war-triggered downward revisions to our growth forecast. <\/strong>Over the past few weeks, we saw S&P Global Ratings<\/a>, BMI, and Oxford Economics<\/a> lower their growth forecast for the current fiscal year. BMI remains the most optimistic, expecting the economy to grow at a 4.9% clip. <\/p>\n

Why did the WB keep its forecast unchanged? <\/strong>The global lender said its projection was \u201cdriven by robust growth in the first half of the fiscal year, resilient private consumption, and growing private investment, offset by slower moderation of inflation due to the conflict.\u201d <\/p>\n

We\u2019re doing better than the wider region: <\/strong>The US-Iran war dragged down the World Bank\u2019s forecast for the region to 1.8% in 2026, down from the 4.2% forecasted in January, and a significant dip from 2025\u2019s estimated growth of 4%. But the economic outlook for the region remains \u201cclouded by uncertainty,\u201d with the lender noting the degree of disagreement across projections made by different forecasters.<\/p>\n

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<\/a> PRIVATIZATION \u2014 The EGX\u2019s waiting room just got a bit more crowded with <\/strong>six state-owned firms temporarily listing yesterday<\/strong>, up from the initial list of five originally announced. In addition to El Nahda Industries, Egyptian Ferroalloys Company, El Nasr Glass, El Nasr Mining, and Alexandria Co. for Refractories, which a senior government official told us to expect earlier this week, the list now also includes the Egyptian Company for Pipes & Cement Products \u2014 often referred to as Siegwart \u2014 according to a bulletin from the bourse.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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** DID YOU KNOW that we cover <\/strong>Saudi Arabia<\/a><\/strong>, the <\/strong>UAE<\/a><\/strong>,<\/strong> and the <\/strong>MENA-India<\/a><\/strong>Corridor<\/a><\/strong>?<\/strong><\/p>\n

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Happening today <\/p>\n

<\/a> We all know that inflation rose in March, and today we will get to know by how <\/strong>much<\/strong>, with Capmas expected to release March inflation data in a few hours. This will give us our first real look into the inflationary impact regional volatility is having on Egypt. With fuel price hikes, a weaker EGP, and rising global energy and freight costs all feeding into the economy, the upcoming reading is expected to reflect a broad-based acceleration in price pressures.<\/p>\n

February\u2019s data already showed a <\/strong>pre-crisis increase<\/a><\/strong>, with annual urban inflation up 1.5 percentage points to 13.4% on the back of rising food and education costs. That reading caught the market off guard, signaling that price pressures were mounting even before the market uncertainty and supply chain disruptions that erupted in late February.<\/p>\n

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<\/a> <\/p>\n

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PSA-<\/p>\n

WEATHER- The mercury is rising in Cairo today<\/strong>, with sunny skies, a high of 28\u00b0C, and a low of 15\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a fair bit cooler in Alexandria<\/strong>, with cloudy skies, a high of 22\u00b0C and a low of 14\u00b0C.<\/p>\n

And over the weekend and through to Sham El Nessim, <\/strong>expect to see temperatures stay in the high twenties in the capital and in the low twenties for our on the Mediterranean.<\/p>\n

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The big story abroad <\/p>\n

An <\/strong>Israeli attack on Beirut<\/a><\/strong> \u2014 killing hundreds \u2014 now threatens to unravel the two-week <\/strong>US-Iran ceasefire<\/strong>, leading Tehran\u2019s lead negotiator to label any continued negotiations as \u201cunreasonable\u201d under these conditions. Washington and Tel Aviv insist that the ceasefire does not include Lebanon, with Israeli premier Benjamin Netanyahu saying strikes would continue.<\/p>\n

This prompted Tehran to respond by <\/strong>halting the passage<\/a><\/strong> of two oil tankers through the <\/strong>Strait of Hormuz. <\/strong>The Islamic Republic aims to impose tolls \u2014 to be paid with cryptocurrency \u2014 on oil tankers passing through the waterway, an Iranian official told the Financial Times<\/a>. Ship-tracking data by Bloomberg<\/a> showed the strait remained largely blocked as of yesterday. More than 800 vessels remain stuck in the Gulf.<\/p>\n

Oil jumped again: <\/strong>After the news of the ceasefire dragged oil prices down, fear that tensions could escalate again pushed prices up in early trading today. Brent crude rose 2.5% to USD 97.14 per barrel. <\/p>\n

Meanwhile, in the world of AI: <\/strong>Tech giant Meta has debuted<\/a> its first new model \u2014 Muse Spark \u2014 since CEO Mark Zuckerberg launched a multi-bn USD drive to bring on fresh AI talent. Pitched as an improved version of virtual assistant Meta AI, the new product claims to allow more personalized and visual responses and draws from content shared across Facebook, Instagram, and Threads.<\/p>\n

And in the feud between Anthropic and the Pentagon<\/strong>, a Washington, DC, federal appeals court declined to obstruct<\/a> the national security blacklisting of the AI \u200ccompany. The move could block contractors who work with the Pentagon from using AI models by the startup. A separate appeals court had issued the opposite ruling in late March.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. It has been a whirlwind 24 hours since the announcement of a two-week ceasefire between the US and Iran. The news triggered a relief rally across local, regional, and international markets, with the EGX jumping and the EGP strengthening against the greenback. ^^ We dive deeper into the main drivers behind the […]<\/p>\n","protected":false},"author":1,"featured_media":692622,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[12573],"tags":[104,72,74,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-692621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today-10","tag-economy","tag-enterpriseam","tag-what-were-tracking-today","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"4bac6e9d-5d32-47fd-824e-2781f347e0b8","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/6\/1751.jpg","photo_position":"above","homepage_title":"","full_issue_title":"No growth forecast downgrade from the World Bank","related_issue":[692619],"teaser":""},"yoast_head":"\nWorld Bank maintains its growth forecast for 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\/2026\/04\/09\/world-bank-maintains-its-growth-forecast-for-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank maintains its growth forecast for Egypt\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. 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Local investors were net sellers. The index is up 4.1% YTD.In the green: Fawry (+6.8%), Orascom Development (+5.7%) and Sodic (+4.7%).In the red: CI Capital (-7.3%), AMOC (-2.6%) and Orascom Investment (-2.5%).","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554964,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/market-roundup-on-24-november\/","url_meta":{"origin":692621,"position":1},"title":"Market roundup on 24 November","author":"enterpriseam admin","date":"24 November 2021","format":false,"excerpt":"The EGX30 fell 0.2% at today\u2019s close on turnover of EGP 897 mn (38.5% below the 90-day average). Local investors were net sellers. The index is up 4.7% YTD.In the green: EFG Hermes (+6.7%), GB Auto (+4.3%) and Gadwa for Industrial Development (+2.3%).In the red: Rameda (-4.1%), Fawry (-2.5%) and\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566623,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/04\/egx30-goes-up-in-first-trading-session-of-the-week\/","url_meta":{"origin":692621,"position":2},"title":"EGX30 goes up in first trading session of the week","author":"enterpriseam admin","date":"4 July 2021","format":false,"excerpt":"The EGX30 rose 0.9% at today\u2019s close on turnover of EGP 897 mn (27.7% below the 90-day average). Foreign investors were net buyers. The index is down 4.6% YTD.In the green: TMG Holding (+4.8%), Abou Kir Fertilizers (+3.8%) and EFG Hermes (+2.1%).In the red: MM Group (-1.0%), Cleopatra Hospital (-0.4%)\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555768,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/25\/the-emerging-market-bears-are-massing\/","url_meta":{"origin":692621,"position":3},"title":"The emerging-market bears are massing","author":"enterpriseam admin","date":"25 November 2021","format":false,"excerpt":"A quarter of investors surveyed by HSBC are bearish about investing in emerging markets, thanks to slowing economic growth and imminent monetary tightening by the US Federal Reserve, according to Reuters. Sentiment is low compared to an earlier survey, which found that only 10 investors were bearish about EMs. The\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":654524,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/04\/cibs-net-income-jumps-77-y-o-y-in-3q-2024\/","url_meta":{"origin":692621,"position":4},"title":"CIB\u2019s net income jumps 77% y-o-y in 3Q 2024","author":"enterpriseam admin","date":"4 November 2024","format":false,"excerpt":"The bank\u2019s net interest income grew 74% y-o-y during the three-month period","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549995,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/us-stock-markets-brace-for-another-rough-earnings-season\/","url_meta":{"origin":692621,"position":5},"title":"US stock markets brace for another rough earnings season","author":"enterpriseam admin","date":"10 October 2022","format":false,"excerpt":"S&P 500 companies are expected to see their weakest earnings growth in three years in 3Q 2022, with Wall Street analysts cutting their earnings forecasts by some USD 34 bn, the Financial Times reports. Analysts expect S&P 500 firms to report earnings-per-share growth of 2.6% y-o-y in 3Q 2022 \u2014\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/692621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=692621"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/692621\/revisions"}],"predecessor-version":[{"id":692664,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/692621\/revisions\/692664"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/692619"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/692622"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=692621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=692621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=692621"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=692621"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=692621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}