Egypt was one of the bright spots when it came to economic growth in 2020 — while much of the world experienced a decline in economic output as a result of the ongoing coronavirus pandemic, Egypt recorded a reported 1.5% growth rate and was able to avoid fully locking down its economy.
The country also continued to build on its fiscal reform programme, launched in 2016, with the banking sector playing a prominent role in funding the economy. New banking sector regulations, passed in 2020, are also expected to spur on the sector, notably when it comes to the adoption of digital banking services.
