Egypt finds recovery an elusive target to hit - The National

A year after events in Egypt came to encapsulate the optimism of the Arab Spring one might be forgiven for thinking things there are already improving.

Egypt has been the best performing major market globally so far this year, with the EGX30 index rising 44.3 per cent in the year to date. Parliamentary elections have taken place and a new assembly held its first session earlier this month, with presidential elections due in the summer.

So far so good. But behind the scenes real progress has been much more elusive, with economic growth struggling and foreign exchange reserves plummeting.

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