A bullish consensus on the Egyptian economy was expressed at the recent IMF and World Bank annual Spring Meetings in Washington DC about the prospects for emerging markets, according to Bank of America Merrill Lynch’s Emerging Insight report issued on Monday.
The report cited Egypt’s meetings as confirming the bank’s view that the macro stabilisation of the Egyptian economy continues and that reform momentum is intact without hesitations. This can be seen in the government’s decision to eliminate all fuel subsidies (except LPG), and an automatic fuel price indexation mechanism is likely to be introduced by December or the end …read more
Source: Daily News Egypt
