HSBC expects Egypt to build on growth momentum during 2021

HSBC's Global Economic Outlook virtual roadshow came to Egypt, last week, with 100 of the bank's clients attending the online event.

The event was attended by: Simon Williams, Chief Economist for Central and Eastern Europe, Middle East and Africa (CEEMEA); Dominic Bunning, Senior FX Strategist; and James Pomeroyl, HSBC Global Economist Director, among others.

The trio gave their views on the impacts of the novel coronavirus (COVID-19) on the global economy, and explored various factors influencing macroeconomic trends, fiscal policy, as well as oil and foreign exchange markets. They also addressed the challenges and opportunities awaiting Egypt and the wider region in 2021.

The event was held at a critical time for the global economy, with countries around the world heading into the end of the year with increasing COVID-19 cases. However, the increasing global consumer confidence, which had shown signs of strengthening, has also started to wane.