You couldn’t call it giddy optimism. But, in recent weeks Egypt has experienced a palpable mood swing, resulting in increased consumer and investor confidence, according to those in business, shopkeepers and political observers.
The commercial districts and shopping malls of Cairo are bustling and businesses say that shoppers are spending more. The stock market is enjoying a boom, up 37 per cent since the uncertainty surrounding presidential elections in June that propelled the Islamist Mohamed Morsi to the presidency.
A technical team from the International Monetary Fund is due in Cairo this month to negotiate a proposed $4.8bn loan package and a large US delegation, including six trade officials and representatives of dozens of US multinationals, will arrive on Saturday to drum up business.
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