Goldman Sachs expects surplus in foreign financing to Egypt ...Egypt

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The Goldman Sachs bank expects a surplus in foreign financing to Egypt worth US$26.5 billion over the next four years, compared to previous expectations of a deficit of $13 billion, as a result of anticipated financing from the International Monetary Fund (IMF) and other partners following the investments achieved from the Ras al-Hikma deal. In a research note, the bank expects the current account deficit to widen as imports rise at a faster pace with the availability of the dollar – only partially offset by an increase in remittances from Egyptians abroad. Asharq Business quoted the bank as saying: “We expect the deficit to expand to 2.5 percent of GDP by the end of this year.” Its expectat

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Last updated : 17 March 2024 clock 12:04 PM

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Goldman Sachs expects surplus in foreign financing to Egypt ...Egypt

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