With the current pessimism surrounding Egypt’s economy, can there still be hope for a brighter future?
The economics of any country can have many branches that are not seen by ordinary individuals, and while there may be some sectors suffering, other sectors may be thriving.
A new report by the BMI has placed Egypt as one of the ’10 emerging markets of the future’, stating that it will add USD 4.3 trillion to global GDP by 2025 and actively participate as the ‘new drives for economic growth’.
From World Economic Forum’s website, the research mentions expectations of perpetual investment across the housing, manufacturing and food sectors.
The Global Real Estate Transparency Index has also pushed Egypt higher in the ranking of the semi-transparency category for the first time in the JLL and LaSalle Investment Management’s 2016 GRETI.
In the same category, large emerging markets of the future such as Brazil, Russia, India and China and the fast growing economies of Mexico, Indonesia, South Korea and Turkey.
Capital formation, municipal finance and the security of property ownership are the main points that result from the transparency of real estate.
Yet how far can these rankings promise a better future? And to what extent do the current decisions the government take, or will take, coincide with these predictions?
While investment may be thriving, the other branches of the economy should not be taken out of the puzzle.