The 2016 Euromoney conference kicked off in Cairo on Monday, gathering about 800 international and Egyptian business owners, together with top governmental officials. The two-day event, held in Semiramis Intercontinental in downtown Cairo, has a number of crucial topics on this year’s agenda that focus on Egypt’s economic future. This year’s event is largely focused on the impact of the USD 12 billion IMF loan agreement Egypt has reached, how the government’s economic reform policies will affect ordinary Egyptians – particularly after the value-added tax (VAT) – and investors’ major concerns regarding the central bank’s approach to a currency devaluation. Current challenges such as the budget deficit, high inflation rates and the depletion of foreign reserves were also at the top of the agenda. ”During the past five years, foreign investors were still worrying how the Egyptian market will be performing. This year, as a foreign investment institution we are witnessing clear economic program in Egypt which sends positive vibes to foreign investors and a clear message about the next steps taken by the Egyptian government regarding fiscal, monetary and investment policies,” said Christopher Garnett, the Director of Euromoney Conferences. The IMF support to the…
Investors Keeping an Eye on Egypt’s Next Economic Steps, Say Euromoney Experts
September 19, 2016
