A recent report issued by CitiGroup reaffirms the Groups confidence in Egypt’s economy and notably the positive possibility for robust growth over the next 40 years, making Egypt one of the most important emerging markets in the world.
The report has ranked Egypt’s economy as one of the most essential among the bank G3 (global growth generators) which include China, Mongolia, India, The Philippines, Iraq, Nigeria and Vietnam.
Aftab Ahmed, Citi Egypt Country Officer expressed in a press statement about the report,
“We affirm CitiGroup’s commitment to the Egyptian market and its eagerness to share in boosting economic development in the country, especially after the huge developments that Egypt has witnessed.
"It is anticipated that in this climate of political stability more investors will be heading to benefit from the expected opportunities for growth in the Egyptian market, which embraces 80 million consumers who are looking forward to becoming part of the global economy.”
The CitiGroup report highlights that the dominance of transparency and democracy and new economic reforms introduced after the recent revolution in Egypt will lead to more investment opportunities and will contribute to Egypt's ecomony achieving an average growth rate of 5% over the next 40 years.
The CitiGroup reports also highlighted that the anticipated increase in the population in Egypt from 84.4m in 2010 to 129.5m by 2050 as well as an anticipated 8.6% increase in Egypt’s workforce will fuel demand for consumption in the local market and further boost the economy.
This is very positive news for Egypt as an investment market and a sign of future wealth for Egypt property investors.
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