EGYPT: NEW GOVERNMENT TO TACKLE INFLATION AND BOOST INVESTMENTS

   Thu, 13 June 2024

Egypt's recent cabinet reshuffle underscores President Abdel Fattah Al Sisi’s emphasis on economic reforms despite persistent high inflation. Positively, foreign currency reserves have reached their highest level in years, bolstered by major investments in February and March, which have reduced near-term external financing risks. Concurrently, the Gaza conflict has strained Egypt-Israel relations, leading to heightened domestic and international tensions. In response, Egypt has adopted a containment strategy to prevent a mass exodus of Palestinian refugees and has become increasingly critical of Israel's actions.

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