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Thndr Claps » EGY Claps » Economy 🏙 » HSBC Bank issues its latest report on Egypt📄

HSBC Bank issues its latest report on Egypt📄

by Shams Abbas
March 7, 2022

According to HSBC Bank’s recent forecasts, every 10% increase in the price of oil might result in a 0.36% yearly increase in inflation in Egypt. 

Net exports, foreign investment &foreign debt

The contribution of net exports to GDP is predicted to rise from -3.7% this year to a -0.6% the following year.

Net exports to GDP

The net exports-to-GDP ratio is an indicator of the relative importance of international trade in the economy of a country.

Egypt’s net foreign direct investment is expected to reach $4.5 billion in 2023, up from $3.5 billion this year. The country’s foreign reserves will climb to $43.6 billion from $42 billion, according to the bank.

Egypt’s external debt is set to increase by $5 billion next year to $147 billion. with a decline in debt as a proportion of GDP to 28.4% in 2023, down from 30.7% in 2021.

External Debt 🌎

External debt is the portion of a country’s debt that is borrowed from foreign lenders.

Public debt & budget deficit

Egypt’s national debt as a percentage of GDP will fall to 86.8% in the current fiscal year, down from 91% in 2021, and will reach 84.2% in the next fiscal year.

debt-to-GDP ratio is the ratio between a country’s government debt and its GDP. A good debt-to-GDP should be below 60%. 

The budget deficit forecast is expected to fall to 7.6% of GDP this fiscal year, down from 8% last year, and to 7.5% next fiscal year.

Budget deficit 📉

A budget deficit occurs when expenses exceed revenue and indicate the financial health of a country.

Cash reserves are the backbone 💰

Egypt’s ability to handle current challenges is aided by its ability to maintain a substantial cash reserve until exports recover, import growth slows, & foreign investments begin to recover.

Although the bank expects inflation to remain around 9%, other predictions suggest that it would increase more than HSBC’s expectations, prompting the CBE to boost interest rates, especially if the global interest rate hikes continue.

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