Oct 7, 2009
| Last Updated
Executive summary
- Relatively closed economy resilient during the crisis despite fall in inflows;
- Countercyclical fiscal and monetary policy supportive of growth;
- Shifting to fiscal consolidation and financial reforms key for long-term growth.
Egypt’s economy has weathered the recession better than many of its peers, achieving a 4.7% growth rate in the 2008/09 fiscal year that just concluded despite a slowdown in exports and inflows. The limited exposure of Egypt’s financial sector to foreign-structured finance and its minimal reliance on foreign-bank loans sheltered the country[...]
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