Cairo anticipates a bright future

RetailME Bureau

Economic growth returns with political stability. After 18 months of civil unrest and political turmoil, the second half of the current year saw a welcome return to more settled and stable conditions following the election of president Mohamed Morsi and the appointment of a new government, which has already taken steps to strengthen ties with foreign countries across the Middle East and beyond.

The revolution saw the Egyptian economy registering real GDP of just 1.8% last year, with IHS Global Insights predicting real GDP growth of 1.9% for the year and 2.8% in 2013, although the government is targeting nominal growth of 4-to-5% this year, estimating it requires $45 billion in investment to achieve this goal.