Egypt Consumer & Retail Q2 2020
While private final consumption has fallen behind headline economic growth during the past two years, we note thatconsumption is projected to tick up notably in 2020, forecast to come in at 3.5%, up from 0.8% in 2019. This comes on the back ofthe conclusion of Egypt’s 2016-2019 IMF-led structural reform programme. We also highlight that stabilising inflation will offerconsiderable relief to households and help maintain the value of wage hikes enacted in 2019. We project unemployment to reach7.5% of the total labour force in 2020, a decrease from 8% in 2019.
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