Goldman Sachs
Seen by the Arab World News Agency, the report shares that Goldman Sachs predicts the country’s real GDP growth to average between 6-6.5 percent for FY2025/202
This positive development is attributed to various factors, including the UAE's investment in Ras El Hekma, the flotation of the Egyptian pound, and a financing deal with the International Monetary Fund (IMF).
The report explained that the size of this investment is much larger than expected, and the timing of this liquidity entry is very close if the financing goes as planned.
The bank believes that, under the current circumstances, it is unlikely that any reduction in the value of the Pound would achieve the goals of the Egyptian government.
Goldman Sachs also projected that Egypt's financing requirements over the next four years will amount to $25 billion
In January, Egypt's dollar-denominated bonds witnessed a 1.7 percent decrease, marking their worst monthly performance since August.
Upon this trip, Goldman Sachs issued an economic research concluding the results of the meeting.
The two steps would keep the Egyptian pound move roughly in line with its fair value, it added.
Goldman Sachs noted that Egypt, Russia and Ukraine have been able to post a decline in inflation rates during April, pushed by low food prices.
All flights between the two countries will resume after a five-year halt – since October 2015 – which the Group believes would give the tourism sector in Egypt a shot in the arm.
Turkey's deteriorating conditions are the reason.
Maeet said the report affirms that partial closure Egypt had imposed in light of the coronavirus crisis has spared Egypt further harm to economy.
Global governments have been taking unprecedented measures to contain the coronavirus outbreak which is threatening to spark a worldwide economic contraction.
Goldman Sachs said that cutting interest rates in Egypt would support long-term growth rates, but the government should cut the current interest rate by 200 to 400 basis points in 2020 to stimulate private investment.
Goldman Sachs said it sees a 50 percent probability of May getting a Brexit divorce deal ratified, adding that lawmakers would ultimately block a no-deal exit if needed.
With Monday’s losses, all three indexes erased the gains from their brief rally after the U.S. congressional elections on Nov. 6.
The announcement could be made as soon as Monday, the paper reported on Sunday citing sources, and will formally establish Solomon as the successor to Lloyd Blankfein.
A federal judge ruled that women accusing Goldman Sachs Group Inc of discriminating against them in pay may pursue their claims as a group.
Singaporean prosecutors and police are looking at Goldman Sachs Group’s relationship with scandal-hit Malaysian state investment fund 1MDB.
Goldman Sachs Group is ramping up its private-equity investments and going after smaller, high-growth targets to offset recent trading declines.
