In Egypt loans are almost unaffordable for the locals due to high interest rates. Why do you consider it to be a promising country?
EGYPT HAS PROVED TO BE ONTO A NEW PATH DUE TO THE FOLLOWING REASONS:
Agreed to a significant number of reforms, pushed largely by the International Monetary Fund (IMF)
Devalued its currency (Egyptian pound) by 57.5% overnight
Raised interest rates 300 basis points (bps)
Removed subsidies on gas and reduced them on fuel
Raised >$12bn… in first 3 weeks, more than $55bn since then
Improved tax regime to attract investors
Travel bans falling away leaving room for upturn in tourism
Fast track infrastructure programme
Government continues to improve roads, housing and health infrastructure
High interest rates and inflation make operating environment challenging in the short term