HSBC's forecast for the region's three largest economies reveals its continued concerns for Saudi Arabia and Egypt, while it believes UAE's status as a safe haven is revived
HSBC expects Egypt's GDP to rise a mere 0.2% in 2011, a far cry from the robust 5.1% growth in 2010. To be fair, a lot has changed in the country since the end of 2010.
Hosni Mubarak's efforts to hold on to the country's rein and his subsequent departure sucked the life out of the Egyptian economy, and things are only now slowly turning back to normal, with many question marks hovering on the horizon.
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