World Bank: improvements in Egyptian confidence

The World Bank reported an improvement in Egyptian confidence levels in exports and manufacturing in its semi-annual report on Monday.
The Global Economic Prospects Report added that many variables, including the domestic exchange rate, the pressure of demand and a rise in value-added tax, have caused inflation rates to rise in some countries including Egypt.
Furthermore, the WB’s report expects a 3.6 precent growth in real GDP in 2015, increasing from 2.9 percent in 2014.
The report also estimated that GDP will rise even more to reach 3.9 percent in 2016 with the possibility of reaching 4.0 percent in 2017.
While there has been progress towards stability in Egypt, other countries remain mired in tensions, the World Bank said.
"Risks of regional turmoil and the volatile price of oil are considerable; political transitions and security challenges persist," it added.

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