Egypt continues to face economic challenges, showing large account deficits due to a lack of foreign reserve and one of the lowest GDP growths in Africa at 2.6% in 2016. The country is currently going through significant structural adjustments supported by the IMF that, although positive, brought the inflation rate to very high levels (up to 30.1%) last year. The good news is the renewal of interest from investors following these adjustments and a new investment law is scheduled in 2017 that should boost foreign inflows. In addition, President Trump gave his full support to President El Sisi during his visit to the United States in April 2017 which brings new hopes for the Egyptian economy.
However, the terror-related incidents in the country in 2016 has strengthened security concerns. Although the government has implemented emergency powers, that has proven to be relatively ineffectual. The result was tourists remained wary of visiting the country and tourism did not enjoy a substantial recovery.