November 2016 Egypt floated the Egyptian pound (EGP), causing a dramatic depreciation closer to essential currencies.
In turn, this sparked in particular immoderate inflation. Egypt’s headline inflation peaked at 33% in July 2017. though it’s far nonetheless an extended way better in comparison to the as soon as a year common inflation of 9.4% from 2012 to 2016.
It also can additionally come as a few things of a surprise, therefore, that Egypt’s housing marketplace is broadly anticipated to upward push strongly in price in coming years – and excessive-deliver up production is booming to satisfy demand.
But the monetary transition is full of risks. The competence of the Egyptian authorities is low. Grand schemes consisting of the enlargement of the Suez canal and the flow of the executive capital out of Cairo were followed with too little input from rational monetary planners.
Yet for all that, different reforms appear probably to enhance the economy, and therefore the assets market.