Bloomberg published the Standard Chartered Bank report where Egypt was ranked seventh on the list of the world top 10 economies by 2030 making it the only economy making the list in the region. The report examined the current emerging markets and predicted the size of the economy by using the purchasing power parity exchange rates (PPP) and nominal gross domestic product (GDP). Standard Chartered economists led by David Mann wrote that the predictions are “underpinned by one key principle: countries’ share of world GDP should eventually converge with their share of the world’s population, driven by the convergence of per-capita GDP between advanced and emerging economies,” Bloomberg reported. The forecasted size of the Egyptian economy is USD 8.2 trillion allegedly exceeding that of Russia, Japan and Germany. Egypt has been taking towards reviving its economy in the past few years through the economic reform program lead to budget allocations and subsidy cuts. The World Bank highlights that the reform policies will influence Egypt’s growth rate which is expected to be 5.6 percent in 2019. The economic growth is also influenced by the consumption rates and patterns as well as…
Egypt Will Be One of the Top 10 Emerging Economies According to Bloomberg
January 10, 2019
