While Egypt continues to face considerable economic challenges, the outlook is improving on the back of strong private sector activity and government reforms. New revenue enhancements have been put into place, while current spending is being curtailed and a long-awaited legal framework aimed at attracting new investment will soon be rolled out. Financial services, telecoms and industrial firms have benefitted from steady domestic demand, although there are plenty of obstacles to faster growth, including a troubled currency – the flotation of which, while seen as necessary, threatens to drive up inflation.
Among the most diversified economies within both the UAE and the GCC, Sharjah has long played an important cultural and economic role in the region. Home to three free zones, 16 museums and a number of annual festivals that attract visitors from around the world, the emirate continues to perform in the realms of commerce and culture. Sharjah has developed strong manufacturing, tourism and logistics industries, among other non-oil sectors.
We can all accept it at this point: we live in uncertain times. To be sure, all countries, whether emerging or developed, experience a certain grade of incertitude – but some do more than others.
Mexico is coexisting with the biggest uncertainty hurricane of its recent history, particularly since the North American Free Trade Agreement (NAFTA), the 23-year-old treaty with the US and Canada, was sentenced to death by US President Donald Trump.