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Bloomberg Names Egypt the 4th Most Vulnerable Emerging Market to External Shocks

Oil prices, emerging market problems and increasing interest rates all have a negative effect on Egypt's economy.

el moez street

A recent report issued by Capital Economics noted that an increasingly negative sentiment towards Turkey could have repercussions on other emerging markets, making financial conditions for them more difficult.

Last Thursday, emerging market stocks fell more than 2%, the highest daily fall since January 2016.

In September, it was reported by the Institute of International Finance that Egypt is one of three countries in the Middle East that are at risk from the emerging markets selloff.

Speaking to CNBC, Egypt’s recently-appointed Finance Minister Mohamed Maait says it’s no reason to be alarmed … yet. “It is worrying; however, we are able until now to absorb these negative effects. Egypt’s economy has sources to address this. However, I have to be very honest – up to a limit. So hopefully what is happening will be corrected and will move into a stable position, because yes we are absorbing all these shocks –oil prices, emerging market problems, increasing interest rates – but if they continue like that, it will be a problem for us.

On the other hand, the most robust markets according to the study are Thailand, Russia and Saudi Arabia.


Todays Events
   Electric Thursday   @ CJC  610
Bars
Date: 11/15/2018
Time: 10:00pm - 2:00am
Venue: Cairo Jazz Club 610
11th Panorama of the European Film
Film
Date: 11/15/2018
Time: 10:30am - 12:0am
Venue: Cairo
Deep House with Joe @ Rooftop Lounge
Clubs
Date: 11/15/2018
Time: 10:00pm - 4:00am
Venue: Rooftop Lounge Garden City
The Dancing Canvases @ Mashrabia Gallery
Exhibitions
Date: 11/15/2018
Time: 11:00am - 9:30pm
Venue: Mashrabia Art Gallery
Alexandrian Dream @ Mashrabia Art Gallery
Exhibitions
Date: 11/15/2018
Time: 11:00am - 8:00pm
Venue: Mashrabia Art Gallery
Hisham Blues @ Saigon Restaurant & Lounge
Bars
Date: 11/15/2018
Time: 9:00pm - 2:00am
Venue: Saigon Restaurant and Lounge
Paper Trails II @ Gypsum Gallery
Exhibitions
Date: 11/15/2018
Time: 12:00pm - 8:00pm
Venue: Gypsum Gallery
Something Else II - Off Biennale
Culture
Date: 11/15/2018
Time: 2:00pm - 8:00pm
Venue: Cairo