Egypt faces ‘stark choice’ during economic crisis, Goldman Sachs says – The National
- Date: 06-Apr-2023
- Source: The National
- Sector:Financial Services
- Country:Egypt
Egypt faces ‘stark choice’ during economic crisis, Goldman Sachs says – The National
Cash-strapped Egypt must speed up the pace of its reforms or make more "painful adjustments" to pluck its economy out of a deepening crisis, according to global investment banking group Goldman Sachs.
The Arab world's most populous country is saddled with double-digit inflation and a growing currency crisis, putting immense strain on the economy.
"In our view, this leaves Egypt facing a stark choice: accelerate the implementation of a reform agenda or move towards further painful adjustment," the investment bank said in a report released this week.