Minister of Planning and Economic Development, and International Cooperation Rania Al-Mashat, held a meeting with Farouk Soussa, chief economist at Goldman Sachs, and several bank officials to review recent developments in Egypt's economy and efforts to stimulate investment and support the private sector.

Goldman Sachs expects global gold prices to climb to $3,700 per ounce by the end of 2025, with the potential to reach $4,000 by mid-2026.

Prime Minister Mostafa Madbouly discussed Egypt’s economic reform file with Jared Cohen, Co-Head of Goldman Sachs Global Institute.

Minister of Investment and Foreign Trade Hassan El-Khatib discussed strategic partnerships and economic reforms in Egypt with a delegation of Goldman Sachs Gives.

Goldman Sachs expects Egypt to lower interest rates by 200 basis points (bps) in May.

Goldman Sachs projects Egypt’s real gross domestic product (GDP) to accelerate to 4.9% in the upcoming fiscal year (FY) 2024/2025 from estimates of 3.5% for the current FY.

Goldman Sachs projects a surplus of $26.5 billion in external financing to Egypt over the next four years, versus previous expectations of a deficit of $13 billion.

Some international investment banks, including Goldman Sachs, Citibank, and Morgan Stanley, resumed investing in Egypt’s government debt instruments.

The US-based investment bank Goldman Sachs expects the scale and speed of the Ras El-Hekma deal’s investments to boost Egypt’s foreign exchange liquidity to meet its financing needs in the near and medium terms.

The US-based investment bank Goldman Sachs expects an end to the foreign exchange crisis in Egypt within days or weeks at maximum following the government’s $35 billion Ras El Hekma deal with Abu Dhabi Developmental Holding (ADQ).

Any further devaluation of the EGP under the targeted foreign exchange regime is unlikely to meet the policy objectives of the Egyptian government, Goldman Sachs said in a recent report.

Goldman Sachs expects the International Monetary Fund’s (IMF) new financial package for Egypt, currently on the way of being finalized, to be valued at $12 billion.

Goldman Sachs Group Inc. and Pictet Asset Management expect Egypt to avoid default and perform well for investors as pessimism priced into Egypt's dollar bonds is exaggerated.

Headline inflation may accelerate 37% in the third quarter (Q3) of 2023 on the back of currency devaluation and rising prices which piled on inflationary pressures, Bloomberg reported on June 10th.

The dilemma is for the Egyptian authorities to weigh the costs of devaluing the currency and moving to a flexible exchange rate regime against potential economic risks from the continuation of the parallel market, according to Goldman Sachs.

Goldman Sachs said that financing options for Egypt have become limited in light of the difficulty in accessing the capital markets, as the Gulf governments prefer direct investment over lending, in addition to the International Monetary Fund’s (IMF) reluctance to provide more financing to Egypt.