The expansion of the African presence is still part of our strategy, says the CEO of CIB – Nach Welt

How do you see the prospects for the Egyptian economy in the short, medium and long term?

The Covid-19 pandemic was a test for the Egyptian economy, particularly due to the decline in the country’s foreign exchange inflows.

However, for a densely populated country like Egypt, the impact has not been as severe as everyone expected, and we have seen signs of economic activity recovering and economic growth is expected to reach 5.2% in FY 2021/22, according to the International Monetary Fund ( IMF).

As a result, the private sector will continue to grow and realize its potential for job creation and sustained market expansion.

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