Economist

Richard Iley

Macroeconomics

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<p>Can you think of an emerging market with a super-cheap exchange rate and surging FX reserves, where GDP growth is accelerating towards 6%, where inflation is collapsing, where the central bank is set to deliver a steady diet of rate cuts, where key structural reforms are being enacted and, lastly, where recent energy discoveries look set to boost already healthy external accounts? The answer is, of course, Egypt! </p>
<p><strong>Egypt was our top pick emerging market for 2018 at the start of the year</strong> (see …</p>
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Can you think of an emerging market with a super-cheap exchange rate and surging FX reserves, where GDP growth is accelerating towards 6%, where inflation is collapsing, where the central bank is set to deliver a steady diet of rate cuts, where key structural reforms are being enacted and, lastly, where recent energy discoveries look set to boost already healthy external accounts? The answer is, of course, Egypt! 
Egypt was our top pick emerging market for 2018 at the start of the year (see …
